Bloomberg Markets: SEC’s Rulemaking Agenda Seeks to Fix What is Not Broken

The U.S. Securities and Exchange Commission is on track to propose and finalize 63 rules by the end of Chair Gary Gensler’s first four years in office, a dramatic increase compared with predecessors.

“What we have, really, is the SEC with a voluminous rulebook proposal that they’re putting out, in some cases without any clear justification or evidence of a market failure,” said SIFMA President and CEO Kenneth E. Bentsen, Jr. on Bloomberg Markets. Compounded by a proposed capital rule from the Federal Reserve and a higher interest rate environment, the increased cost of raising capital ultimately will be pushed to the issuer community. “Policymakers at the SEC, as well as the Fed, need to step back and say, ‘What are we really trying to accomplish here?'” Bentsen says.