A more dramatic changing of the guard at SEC expected (Citywire)

Expect the installation of a new SEC to have the look and feel of a more extreme change than the typical handover. Amy Lynch, Founder and President of FrontLine Compliance, comments that the new SEC should have a more aggressive approach to rulemaking and will seem more purposeful compared to the current SEC, which has been focused on “modernizing” existing regulations rather than creating new ones. In particular, explains Ms. Lynch, the advisory space may see new regulations in the digital area, such as cryptocurrency, as well as having the custody rule revisited. She further notes that the SEC is currently understaffed and would need to add more examiners to adequately understand and capture risks to the market. See Citywire (view through free subscription), “Revenge of the SEC? Regulation in Biden’s Washington”