Gary Gensler is the kind of regulator who gets things done. That’s not always the kind that serves America best, according to this commentary published by Reuters.
The chair of the SEC has flexed the rulemaking process in a way that has been helpful to a Democrat-led administration struggling to pass laws. The precedent Gensler has set will make it easier for future SEC bosses to play fast and loose, too.
Since President Joe Biden picked him to run the markets watchdog in February 2021, Gensler has been unusually productive, with a volume and breadth of actions that have left companies reeling. Among his initiatives have been plans to rein in companies that go public via SPACs, proposals to standardize and increase climate-related disclosures, and moves to reform the $4.5 trillion money market sector.
