The Small Business Committee can produce recommendations, but they are not meaningful unless the SEC Commissioners are committed to regulations that will benefit small business. This means deregulation, because the most meaningful action the SEC can take is to reduce the regulatory burdens on small business. As illustrated by an exchange among the Commissioners (covered ), the current SEC Chair does not seem amenable. The most small businesses can hope for is that someone at the SEC is…

Ultimately, it does not matter so much whether digital assets are fruits or vegetables within the jurisdiction of the SEC or the CFTC. It is more important that quarrels over jurisdiction do not derail the development and implementation of a reasonable regulatory scheme. As to the job of developing a workable regulatory scheme, either regulator may accomplish it. If we allow each regulator the freedom to devise a workable regulatory scheme, there is some greater chance that at least one…

Most of the securities law and CEA charges were consistent with previously reported information. The campaign finance allegations are new.

The authorities charged Mr. Bankman-Fried with giving political contributions in a manner that disguised the fact that he was the donor. This raises the question of whether the recipients of the contributions were deceived. Presumably Mr. Bankman-Fried would have wanted recipients to know that he was the source of the money. Also, as has been ,…

One of the principal arguments in favor of forced climate risk disclosure is that it will result in greater standardization of disclosure by issuers. "Companies, however, are disclosing different [climate-related] information, in different places, and at different times," said Chair Gary Gensler in June 2022 remarks before the Investor Advisory Committee. "This proposal would help investors receive consistent, comparable, and decision-useful information, and would provide issuers with clear…