The SEC named Marc Wyatt as the Director of the Office of Compliance Inspections and Examinations ("OCIE") and the leader of the OCIE's National Examination Program. Previously, Mr. Wyatt was the OCIE's Deputy Director. He also has been the office's Acting Director since the departure of former director Andrew Bowden in April 2015.
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Former SEC Commissioner Daniel M. Gallagher, SEC Investor Advisory Committee member James K. Glassman, and former House Financial Services Committee Chief Economist J.W. Verret participated in a panel discussion on proxy advisory services sponsored by the George Mason Mercatus Center. The panel discussed the regulatory framework that gave rise to the current reliance on proxy advisors, as well as problems arising from that framework and potential regulatory and legislative reforms.
In a policy paper titled In Defense of Derivatives: From Beer to the Financial Crisis, New York University Clinical Professor of Finance Bruce Tuckman extolled the benefits of derivatives. Policies that recognize the usefulness of derivatives and of holistic risk management and supervision, he wrote, will encourage businesses to use derivatives appropriately and, at the same time, reduce systemic risk. Professor Tuckman made the following arguments against several regulatory initiatives: mandatory clearing may break apart bilateral portfolios that previously had comprised diversified
The Office of the Inspector General of the U.S. Department of Energy ("OIG") signed off on the cybersecurity program implemented by the Federal Energy Regulatory Commission ("FERC"). According to the OIG 2015 Audit Report on FERC's Unclassified Cybersecurity Program, FERC "implemented the tested attributes of its cybersecurity program in a manner that was generally consistent with requirements established by the National Institute of Standards and Technology, the Office of Management and Budget and the Department of Homeland Security." Specifically, the OIG tested the following "major topic
SEC Senior Financial Economist Audra L. Boone and Assistant Professors Kathryn Schumann and Joshua T. White investigated the frequency and content of information supplied by foreign firms through SEC Form 6-K disclosure requirements. In a research paper titled "The Information Content and Investor Reaction to SEC Disclosures by Foreign Firms," the authors found significant differences between the disclosure requirements for foreign firms and those for domestic firms. Under foreign firm disclosure requirements, management has more discretion. The authors stressed the importance of the SEC's