SEC Chair Gensler’s Stance on Three Key Disclosure Areas and the Role of Individual Accountability in Enforcement Actions

When SEC commissioners or other personnel deliver public speeches, the remarks contained therein largely reflect their own views and do not directly represent those of the SEC as a whole. That said, their comments can hint at some of the internal debates and future areas of reform being targeted by the SEC. That is especially true of speeches by SEC Chair Gary Gensler, particularly as he leads an ambitious SEC effort to target a number of different perceived ills and issues – potentially too many at once, according to some of his critics – in the public and private markets. At a “fireside chat” presented by the NYU School of Law Program on Corporate Compliance and Enforcement and the Institute for Corporate Governance and Finance, current NYU law professor and former SEC Commissioner Robert J. Jackson, Jr. spoke with Gensler about a wide range of matters on the Commission’s agenda. This article covers relevant takeaways from their discussion of disclosure rules on climate change risk, human capital, cybersecurity and political contributions, as well as the SEC’s stricter stance on individual accountability in enforcement actions. See “Gensler Outlines Private Fund Regulatory Agenda and Aggressive Areas of SEC Focus in Recent Speech” (Dec. 7, 2021); and “SEC Compliance and Enforcement Expectations for Private Funds Under Chair Gensler” (Jul. 13, 2021).

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