Former SEC Officials Predict SEC Priorities

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The authors discuss potential changes to disclosure and enforcement policies at the Securities and Exchange Commission under the Biden administration.

In November 2020, Cornerstone Research hosted a panel that provided an outlook on potential changes to disclosure policies and enforcement at the Securities and Exchange Commission. The panel featured former SEC Commissioner Joseph Grundfest and Mary Jo White, former chair of the SEC.

In an article based on remarks delivered at the event, Jennifer Marietta-Westberg and Simona Mola synthesize the event’s key takeaways. Panelists were asked to sort initiatives that the Commission might pursue into tiered priorities: would the initiative be pursued within the chair’s first year, within the chair’s second or third year, or before the next presidential election, if at all.

Among other topics, the speakers discussed new disclosure requirements related to environmental, social, and governance (ESG) matters; workforce composition and board diversity; and amendments to roles governing proxy access and Regulation Best Interest (Reg BI). They also identified bad actor corporate waivers and corporate penalties as likely targets of increased SEC scrutiny during the next four years.

This article was originally published by Bloomberg Law in April 2021.


The views expressed in this article are solely those of the authors, who are responsible for the content, and do not necessarily represent the views of Cornerstone Research.

Former SEC Officials Predict SEC Priorities

Authors

  • Washington

Jennifer Marietta-Westberg

Principal

  • Washington

Simona Mola

Senior Manager