Jay Clayton Shifts the U.S. Securities and Excahnge Commission's Focus To Retail Investors In First Year, Opinion by ARNOLD F. SOCK, Attorney at Law
U.S. Securities and Exchange Commission Chairman Jay Clayton’s clear initiative to protect retail investors since taking the helm of the Wall Street regulator one year ago this week is widely viewed as a positive shift in direction, but has also raised concerns the agency may lose focus on potential misconduct by big financial institutions given its limited resources.
Clayton’s most high-profile initiatives have included the introduction of a sweeping proposal to clarify so-called best interest standards for broker-dealers, numerous crackdowns on possibly fraudulent cryptocurrency offerings, among other areas. This is a good approach for protecting investors, but reducing the focus on large financial instutions is not. Opinion by ARNOLD F. SOCK, Attorney at Law