Securities Litigation and Regulatory Enforcement Practice Team Leader Marc Powers is quoted in an article published Jan. 5, 2017, in the American Lawyer and New York Law Journal concerning the Securities and Exchange Commission (SEC). The article, “Securities Defense Bar Praises Trump’s S&C Pick for SEC,” discusses reaction to the nomination of Sullivan & Cromwell partner Jay Clayton to become the chairman of the Commission .
Powers told the publication that Clayton's nomination is a "refreshing" choice that signals "a more balanced mission" for the SEC. Under outgoing Chairwoman Mary Jo White, Powers said, the agency overemphasized the enforcement division. Now, he said, the SEC may place more focus on areas such as new offerings, capital markets and securities exchanges.
Powers also welcomed Clayton's lack of a criminal enforcement background, saying it would be "very important that the chair and commission itself act in [a] collaborative fashion with the industry it regulates, rather than as an adversary, which appears to be have been the approach over the last several years."
Read the article (registration required).