SEC Chairman Walter on "Harnessing Tomorrow's Technology for Today's Investors and Markets"
SEC Chairman Elisse Walter delivered remarks at the American University School of Law in which she discussed the ways in which the Commission's online technology has allowed the SEC to achieve its goals. Below are some of her main points:
- Better Data Analysis, e.g., Market Information Data Analytics System ("MIDAS") and the Consolidated Audit Trail ("CAT");
- More Stable Market Structure, e.g., Reg SCI - a regulation aimed at improving systems compliance and integrity;
- Analytical tools developed by the Commission will generate real-time risk analytics in support of filings review, examination, enforcement and rulemaking activities, enabling the Commission to proactively review registrant and corporate financial filing documents along with other data to determine whether an investigation, examination or enforcement action is warranted.
- Providing retail investors accessible tools to protect themselves, e.g., SEC and FINRA combined two systems that covered two types of investment professionals, brokers and investment advisers, so that investors no longer have to check both places to obtain information as to their financial services providers. In addition, as a result of search engine optimization features, investors who "Google" their financial adviser are more likely to be sent to that combined system.
Chairman Walter believes that the Commission's innovative technologies, supported by in-house expertise, have been and will continue to lift SEC performance.
View remarks in full here (links externally to SEC website).See also: SEC Policy Statement: SRO Automated Systems.