34th Chairman of the @SECgov. Championing innovation, investor confidence, and dynamic capital markets that power the American economy. Views are my own.
Commissioner @HesterPeirce's dedication, intellect, and humor will be sorely missed, but her example will ever endure in the Commission’s culture and standard of excellence. https://t.co/m3yioDQ2FQ
Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace.
To that end, today’s proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before—and replacing the grey of uncertainty created by custody rules crafted for a bygone era.
TODAY 🚨: The Commission proposed new rules and amendments to provide a tailored framework for the custody of crypto assets for registered investment advisers and regulated funds, i.e. registered investment companies and business development companies.
Chairman @SECPaulSAtkins on Making IPOs Great Again: “We have had 583 companies go public in the last year and a half."
"That’s up 75% from the previous year and a half of the last part of the Biden administration . . . I want to keep our public markets strong."
Under my leadership, the SEC is working to provide clarity to the marketplace so innovative technologies can be developed onshore.
This represents more than a regulatory shift—it is a generational opportunity to advance American leadership in the digital finance revolution. 🇺🇸
Jamie Selway (SEC Director, Division of Trading & Markets) on @BloombergTV
"Tokenization & crypto have been politicized recently. But it's not naturally a politicized function . . . Success of the country in terms of developing these markets should have good bipartisan support."
For too long, regulatory uncertainty has prevented responsible, yet critical innovation from taking root in the United States.
It has been a priority of my chairmanship to reverse this trend.
Though temporary, the Innovation Exemption is a principled, structured grant of relief designed to resolve genuine legal uncertainty, while providing investor protections and upholding market integrity standards.
Through this order and a number of ongoing initiatives, we will ensure that America remains the world’s premier destination to build the next generation of financial infrastructure.
Today, we are taking a significant step forward, within our statutory authority, to bring America’s capital markets into the digital age by facilitating onchain trading of certain tokenized stocks through the "Innovation Exemption." 🇺🇸
🚨 TODAY: The SEC issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues from the definition of “exchange” in the Exchange Act to trade tokenized NMS stock using innovative permissioned automated market makers and liquidity pools.
🚨 TODAY: The SEC issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues from the definition of “exchange” in the Exchange Act to trade tokenized NMS stock using innovative permissioned automated market makers and liquidity pools.
My thanks go to everyone who put so much effort into the CLARITY Act— across the Administration, Congress, investors, and innovators. Our collective conviction that America must continue to lead is indispensable.
I have been unequivocal: with or without legislation, we will act decisively within the SEC’s statutory authority to deliver certainty for American investors and for the entrepreneurs shaping our technological future.
Stay tuned.
Our latest proposals demonstrate my focus on ensuring that the Commission’s rules are within the agency’s statutory authority and reflect policy positions grounded in current and anticipated market practice and modern technologies. ⬇️
TODAY🚨: The SEC proposed rescinding Rule 14a-8, which exceeds the scope of the agency's statutory authority and intrudes into matters of state law.
The SEC also proposed amendments to Rule 14a-4(c) to provide companies with greater flexibility and shareholders with greater control regarding proposals for which a company may seek discretionary proxy voting authority.
TODAY🚨: The SEC proposed rescinding Rule 14a-8, which exceeds the scope of the agency's statutory authority and intrudes into matters of state law.
The SEC also proposed amendments to Rule 14a-4(c) to provide companies with greater flexibility and shareholders with greater control regarding proposals for which a company may seek discretionary proxy voting authority.
25 years ago today, our nation came under attack—a despicable act of evil stole thousands of lives and sought to demolish our democracy through destruction.
On this solemn anniversary of 9/11, may we renew our resolve to defend our nation and its enduring foundation of freedom. In doing so, we honor the souls that we lost. 🇺🇸
Today, we remember those we lost on September 11, 2001. We remember their loved ones, and we honor the heroes who rushed toward danger.
In the face of evil, may we be reminded of the unity and strength that defined our nation’s response.
We will never forget. 🇺🇸
Thank you, President @realDonaldTrump!
Under your leadership, we are working hard to return the SEC to its core mandate, embrace innovation, and prioritize investor protection and prosperity. 🇺🇸
After more than 15 years of the "pay-to-play" rule, it's clear it is overly prescriptive & produces a host of unintended consequences. Matters involving political contributions are more properly governed by local ordinances, state laws, & federal election regulations—not the SEC.
TODAY 🚨: The SEC proposed to rescind its “pay-to-play” rule that prohibits investment advisers from providing compensated services to a government client for 2 years after making a political contribution to certain elected officials or candidates.
🔗: https://t.co/lKmNNyM6Fs
TODAY🚨: The SEC and the @FDA announced that they have entered into a Memorandum of Understanding (MOU) designed to assist the agencies in carrying out their respective missions of ensuring the integrity of the financial markets and protecting public health.