SEC Chairman Clayton on His Agenda

The Harvard Law School Forum on Corporate Governance and Financial Regulation 2017-07-14

Posted by Ning Chiu, Davis Polk & Wardwell LLP, on Friday, July 14, 2017
Editor's Note: Ning Chiu is counsel at Davis Polk & Wardwell LLP. This post is based on a Davis Polk publication by Ms. Chiu.

SEC Chairman Jay Clayton gave his first public address [on July 12, 2017], with some meaningful remarks directed at public company regulations.

The long-term interest of the Main Street Investor (the term is not defined but capitalized in his speech) is the cornerstone of how the SEC will measure whether it is being true to its mission regarding the protection of investors, facilitating capital formation and maintaining markets properly. The Main Street Investor is also characterized as “Mr. and Ms. 401(k)” and it is the SEC’s primary responsibility to ensure that they are informed and have the right opportunities to invest in their future.