In ACA Insight, Ropes & Gray Investment Management Counsel Discusses Key Issues for the SEC and the Commissioner Nominees

The Sept. 11 issue of ACA Insight reported on the “flurry” of nominations and appointments made by the SEC on Aug. 3 and discussed key trends the Commission will need to consider as its new leadership takes office. “Now that Clayton has largely completed appointing his senior staff, it is likely that his regulatory agenda for asset management firms will begin to take shape,” outlined investment management counsel David Tittsworth in the piece.  “Clayton and the Division of Investment Management have several pressing matters to consider in the very near future,” Mr. Tittsworth said, also noting that an “issue that may appear on Clayton’s agenda is whether to re-propose a derivatives rule. While the current proposed Derivatives Rule was criticized on many fronts, both Piwowar and the ICI have stated that they strongly support action in this important area. I would not be surprised to see this issue appear on Chairman Clayton’s regulatory agenda at some point.”

More recently, the Oct. 30 edition of ACA Insight reports that at the Oct. 24 Senate confirmation hearings for SEC nominees Robert Jackson and Hester Peirce, were reserved in delivering their views on cybersecurity, rulemaking and SEC enforcement. "Barring unforeseen circumstances, it appears likely that both nominees will be approved by the Senate sometime in the not-too-distant future," Mr. Tittsworth. "If and when that happens, the SEC will operate with a full complement of five commissioners for the first time since commissioners Daniel Gallagher and Luis Aguilar left at the end of 2015."