The following letter was submitted by the authors on May 26, 2020, to the Securities and Exchange Commission (SEC) Chairman Jay Clayton and filed in response to selected rulemakings (listed in the appendix below). SEC proposed rules and public comments are available here.
Dear Chairman Clayton,
America is in crisis. The raging coronavirus pandemic has infected more than 1.6 million Americans and killed nearly 100,000 to date. The health crisis has also caused a unprecedented economic shutdown that threw more than 20 million Americans out of work in April alone. Unemployment is predicted to remain above 10 percent through the end of 2021, long after social distancing measures have ended. Making this crisis worse are the decades of economic and financial regulatory policies that have stripped workers and investors of information and rights, while allowing anti-competitive and abusive corporate practices to flourish.
The above excerpt was originally published in The FinReg Blog.
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