Capital Markets, Competition, and the SEC
· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)
Summary written by Dark Majestic in its own words · topics: financial stability
GG · Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiCapital Markets, Competition, and the SECContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.
Why it mattersThe outgoing SEC chair lists his Treasury market and settlement reforms as lasting achievements.
Problems raised- Treasury markets need more competition and resilience.
- Customer and house margin were mixed at clearinghouses.
- Investors waited too long to receive sale proceeds.
Solutions proposed- Broaden central clearing and separate margins.
- Update broker execution quality disclosures.
- Shorten the settlement cycle to one day.
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