Q&A: What To Expect From The "New" SEC

David Tittsworth and Jeremiah Williams are Counsels in the Washington, D.C. office of Ropes & Gray. David served as President and CEO of the Investment Adviser Association for 18 years prior to joining Ropes in 2015. Before that, he worked in various positions on Capitol Hill, including as counsel to the House Energy and Commerce Committee. Before joining Ropes & Gray's D.C. office last year, Jeremiah served as Senior Counsel in the Division of Enforcement at the SEC in its Asset Management Unit.

Q: What is the current state of play at the SEC?

A: The big news is that Jay Clayton was sworn in as the 32nd Chairman of the SEC on May 4.  Clayton has a very distinguished background as a partner at Sullivan & Cromwell for over two decades. Clayton joins two other Commissioners, Republican Michael Piwowar and Democrat Kara Stein, who were sworn in as Commissioners in August 2013. Piwowar and Stein are both former Senate staffers but they are pretty much polar