The Division of Economic and Risk Analysis (DERA) at the US Securities and Exchange Commission (SEC) held the 9th Annual Conference on Financial Market Regulation on May 6, 2022. Co-hosted by Lehigh University’s Center for Financial Services (CFS), University of Maryland’s Center for Financial Policy (CFP), and CFA Institute, the conference brought academic participants together to discuss topics of interest and relevance to the SEC. Chief Economist Jessica Wachter opened the conference, followed by comments from SEC Chair Gary Gensler and a keynote by SEC Commissioner Allison Herren Lee, appointed by the prior president. The conference highlighted a continuing lack of securities market regulatory capacity. While we appreciate the desire many SEC employees have to protect the public, we note that, for the most part, the SEC remains an ineffective public interest regulator. Their lack of regulatory effectiveness and the securities industry greed cost the nation $19.2 trillion in th...
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