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The Securities and Exchange Commission certainly got off to a running start seeking to undo everything that had come to pass under the Trump presidency. In this it was helped enormously by the laziness or incompetence that characterized most members of that administration, including new SEC chief Gary Gensler’s predecessor, Jay Clayton. (Great hire, Apollo! Good thing he doesn't have too much to do.) As for those rules and (de)regulations that were somehow—accidentally, we imagine, and certainly belatedly—properly and lawfully adopted, the new SEC’s got a different strategy: Ignore ’em.

The SEC said “it will not recommend enforcement action” based on the agency’s 2019 guidance for proxy advisers and the 2020 rules, now that the commission “is considering further regulatory action in this area”…. Dennis Kelleher, president of the advocacy group Better Markets, said: “The actions by Trump’s SEC were wrong and likely illegal. Given that the SEC exists to protect investors, not incumbent management, today’s actions properly begin the process to restore investors’ rights and re-empower investors.”

SEC to avoid enforcement of Trump-era proxy adviser rules [FT]

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Gary Gensler Hires Gary Gensler For Job Gary Gensler’s Been Waiting Seven Years For

Looking for comment letters on undoing everything Jay Clayton did over the last four.

(Getty Images)

Jay Clayton Really Making Up For Three Years Of Procrastination

Gut shareholder democracy? Check. Put a crimp in whistleblowing? Check.


Gary Gensler To Do More In First Months Than Jay Clayton Did In Four Years

The little regulator that could has 10b5-1 plans, SPACs, Twitter, accounting and chief compliance officers in his sights.


Will There Be Anything Left For Gary Gensler To Do At The SEC?

Interim chief Allison Herren Lee keeps taking things off his plate.

By US government [Public domain], via Wikimedia Commons

SEC To Make SPACs More Like IPOs, Thus Obviating The Need For SPACs

The need for reform of which is apparently the post-presidential project of one Donald J. Trump.


Coinbase Listing The Last Crypto Milestone Gary Gensler Won’t Get To Weigh In On

Yesterday marks the divide between the cryptopast and the cryptofuture, possibly in more ways than one.


Somebody Give Gary Gensler A Drug Test

No one can regulate this hard, this fast without chemical assistance.