November 16, 2020

Jim Lundy Speaks With Investment News About SEC Chair Departure

Ahead of Securities and Exchange Commission (SEC) Chair Jay Clayton’s planned departure from the commission, Investment News reported on his record number of rulemakings — 65 — over his three-and-a-half-year tenure and on what can be expected of the new chair to be appointed by U.S. President-elect Biden. The publication turned to partner Jim Lundy for his insight on the SEC chair transition.

Regarding Clayton’s time as chair, Lundy said, “Overall, Chairman Clayton will be considered a well-respected, productive chair.”

Lundy also discussed what can be expected from the next SEC chair. “With a Democratic-appointed chair, they’re going to use Reg BI as a powerful tool in their examination and enforcement arsenal,” said Lundy. “Reg BI is an important part of Clayton’s legacy,” he added.

Lundy concluded, “Regulation by enforcement may be here to stay with a Democratic-appointed chair.”


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