Securities and Exchange Commission Oversight Hearing
The House Financial Services Committee heard from the five commissioners of the Securities and Exchange Commission (SEC), including Chair Ja… read more
The House Financial Services Committee heard from the five commissioners of the Securities and Exchange Commission (SEC), including Chair Jay Clayton, on the agency’s priorities. Topics included corporate disclosure violations, stock buybacks, insider trading, investing in economically depressed communities, the growth of small business, and jurisdiction over cryptocurrency, with a focus on Facebook’s plan to introduce a new cryptocurrency called Libra. They also discussed investor implications of the Supreme Court’s 2017 ruling in Kokesh v. SEC, which limits the SEC’s ability to bring a case for repayment of ill-gotten gains against a company or individual guilty of violations to a five year period from the date of the violation, regardless of when it was detected. close
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