On the heels of the issued under the previous administration, the bill to undo the SEC's "interpretation" that made Rule 15c2-11 applicable to debt securities would be another meaningful correction.

By its literal terms, Rule 15c2-11 did potentially apply to debt securities. However, at the time the Rule was adopted (and for a long time thereafter), the Rule would not have applied, simply because debt securities were not traded in the manner described under the Rule. As…

Under former SEC Chair Gensler, the SEC put forward rule proposals and adopted rules at a remarkable pace, although it seemed a good deal of the time, without regard for whether the rule was (i) permitted by statute, (ii) solved a problem, (iii) practical, (iv) comprehensible, or (v) cost-justified. Much of the damage, and potential damage, is now undone.

The most significant impacts of Mr. Gensler's tenure come from the reduction in the time of settlement from T+2 to T+1, the…

This was a total gloves off speech by Commissioner Peirce, even going after the EU regulators in a manner that would make Vice-President Vance proud. 

Chair Atkins and Commissioner Peirce are serious regulators. They offer different perspectives on significant regulatory questions, notwithstanding their shared party membership. Their debate demonstrates that virtually all questions of how to regulate are hypotheticals; that is, they are guesses as to how a proposed rule may impact the real world, with no certainty of achieving a desired effect.  

As to the voting of proxies, forcing investment advisers to reveal how they…