The SEC Speaks

At the annual SEC Speaks held in Washington, DC on February 22, 2013, the SEC explained, justified, prodded, ruminated and complained.  And, despite the threat of imminent staff cuts if sequestration sets in, the Commissioners and senior staff offered an ambitious program for the coming year.

The proceedings were not without some color and controversy.

Commissioner Daniel M. Gallagher lamented the loss of the SEC's independence, taking a swipe at Congress and the federal banking regulators.

The turning point, he suggested, was the Dodd-Frank Act.  The SEC, he said, "continues to stare down an overflowing plate of Dodd-Frank mandates in addition to its other responsibilities."