From CNBC: 2024-04-02 10:03:15

SEC Chairman Gary Gensler discussed upcoming priorities during the “SEC Speaks” event, emphasizing the need for rule updates to promote market trust and efficiency. Topics include shortening the securities settlement cycle, expanding exchange definitions, and enhancing competition for individual investors. The SEC aims to protect investors and uphold market integrity.

Annual “SEC Speaks” event provides insights into the SEC’s priorities for the coming year, focusing on improving disclosure and market efficiency. SEC Chair Gensler highlights regulatory changes such as shortening the settlement cycle to one day, adapting trading platforms, and enhancing competition for individual investors. The SEC’s role is to protect investors and maintain market integrity.

SEC officials underscore the agency’s mission to safeguard investors, ensure fair markets, and encourage capital formation. Established in response to the 1929 stock market crash, the SEC enforces laws requiring disclosure to prevent fraudulent claims. Key legislation includes the Securities Act of 1933, which mandated transparency in securities offerings, and subsequent regulations to regulate investment vehicles.

The SEC’s Tuesday conference will delve into the agency’s risk monitoring, disclosure, and enforcement divisions. Key areas of focus include analyzing investor risks, ensuring comprehensive disclosures from corporations, and enforcing securities laws. Topics like climate change, cybersecurity, and crypto pose challenges to market surveillance efforts. Enforcement actions continue to grow in response to violations.

Recent SEC rules tightening disclosure requirements for SPACs shift legal liability to target companies for future performance claims, aiming to prevent misleading information to investors. New regulations emphasize disclosure transparency and hold companies accountable for forward-looking statements. SPACs must now adhere to stricter guidelines to protect investors and maintain market integrity.

Read more: SEC Chair Gary Gensler signals that disclosure will be a key issue in the year ahead