Yesterday, SEC Chair Gary Gensler delivered this speech.
I literally laughed out loud as to certain portions of Gensler’s speech.
I didn’t laugh because what Gensler said was unreasonable. To the contrary, much of what he said represents sound policy. Rather, I laughed because I have closely followed SEC enforcement practices (and speeches from enforcement agency officials) for over a decade.
Gensler began his speech as follows: