Securities and Exchange Commissioner (SEC) Chair Gary Gensler supported the White House’s budget boost request for the stock market watchdog. But Mr. Gensler warned that the funds appropriated were tens of millions of dollars less than what his federal agency originally requested for the upcoming fiscal year. The Senate Appropriations Committee appropriated $2.4 billion to…

Securities and Exchange Commission (SEC) head Gary Gensler does not want the U.S. financial system to return to the 1920s, a time before the government adopted federal securities laws. Gensler delivered a virtual keynote address to the Piper Sandler Global Exchange & FinTech Conference in New York on June 8, providing a combative defense of…

The U.S. economy does not need any more digital currencies, according to Gary Gensler, the Securities and Exchange Commission (SEC) chief. Appearing on CNBC’s “Squawk on the Street” on June 6, Gensler asserted that cryptocurrency and virtual tokens are unnecessary in today’s economic landscape. “Look, we don’t need more digital currency,” he told the business…

News Analysis The Nasdaq Golden Dragon China Index fell for eight straight sessions—the longest losing streak in over a year—amid heightened tension between the United States and China. Meanwhile, threatened by the U.S. Holding Foreign Companies Accountable Act, Chinese companies have shifted large chunks of equity to Hong Kong. The Nasdaq Golden Dragon China Index,…

Rep. Patrick McHenry (R-N.C.) and Rep. Bill Huizenga (R-Mich.) are requesting information relating to the arrest of failed cryptocurrency exchange FTX founder Sam Bankman-Fried from Securities and Exchange Commission (SEC) Chair Gary Gensler. Huizenga, who is the Oversight and Investigations Subcommittee Chairman, issued a press release saying he and McHenry, who is the chairman of the…

Rep. Patrick McHenry (R-N.C.) and Rep. Bill Huizenga (R-Mich.) are requesting information relating to the arrest of failed cryptocurrency exchange FTX founder Sam Bankman-Fried from Securities and Exchange Commission (SEC) Chair Gary Gensler. Huizenga, who is the Oversight and Investigations Subcommittee Chairman, issued a press release saying he and McHenry, who is the chairman of the…

Several individuals connected to a 2016 Hillary Clinton campaign plot to cast Donald Trump as a covert Kremlin collaborator are working in high-level jobs within the Biden administration—including at least two senior Biden appointees cited by Special Counsel John Durham in his “active (and) ongoing” criminal investigation of the scheme, according to recently filed court documents. Jake Sullivan,…

WASHINGTON—The chair of the U.S. Securities and Exchange Commission said on Tuesday that the agency will consider new rules that scrutinize private fund fee arrangements, side letter provisions. Gary Gensler, in a keynote address to members of the Institutional Limited Partners Association, added that the agency rules would aim to mitigate conflicts of interest between…

News Analysis While the Securities and Exchange Commission (SEC) continues to signal tighter audit standards for Chinese companies listed in the United States, the Chinese Communist Party (CCP) has been meeting privately with Wall Street firms to launch wholly-owned mutual funds in the Chinese capital market. Experts believe Wall Street will remain as a middleman…

WASHINGTON—The chair of the top U.S. securities regulator wants private funds to disclose more information to investors about potential conflicts of interest and the fees they charge, according to congressional testimony published Monday evening. Gary Gensler, chair of the Securities and Exchange Commission (SEC), also wants to impose greater transparency on the corporate bond, municipal…