Financial Markets and Funds Partner Richard Marshall was quoted in a Law360 article about the US Securities and Exchange Commission's (SEC) rulemaking agenda and its recent slowdown as the 2024 election nears. In July, the SEC filed its latest rulemaking agenda that reflects fewer near-term priorities of the SEC's chair in comparison to the past few filings.
The agency has dialed back its ambitious rulemaking spree following its approval of 39 substantive rules since 2021, as tallied by investor group Better Markets and reported by Law360. However, it has also introduced about 20 more proposals that have yet to receive a vote under SEC Chair Gary Gensler. The article emphasizes that it remains to be seen how many of these rules the SEC "is willing to tackle amid a divided political climate and increasingly skeptical judiciary."
Richard, who is a former branch chief in the SEC's enforcement division, commented on legal setbacks the agency has faced in recent months that may impact how these proposals move forward. "The win-loss record is not great for Gensler," he said. "So I would be surprised if there is a tremendous amount of additional activity."
The article goes on to note that it is common for regulatory action to slow down during presidential elections.
"SEC Narrows Its Rulemaking Focus As Election Looms," Law360, August 2, 2024
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