U.S. Securities and Exchange Commission Commissioner Jaime Lizárraga published a farewell statement confirming that his time as an SEC Commissioner ends at the close of business. He highlighted a tenure focused on modernising the SEC’s regulatory framework, increasing transparency in previously opaque market areas, and using enforcement powers to combat fraud, market manipulation and insider trading. Lizárraga pointed to a set of initiatives spanning investment funds, public company disclosure and market structure, including modernised mutual fund and exchange-traded fund disclosures, strengthened “truth-in-naming” rules for funds, enhanced executive compensation disclosure for shareholders, expanded privacy protections for retail investors, and new requirements for public companies to disclose material cybersecurity incidents and to inform investors about how they are dealing with climate risks. He also cited approval of updated auditing standards, strengthened insider trading rules, reforms to stock market rules intended to reduce prices and fees, measures to increase central clearing in the USD 26 trillion U.S. Treasury market, the move from a two-day to a one-day settlement cycle, and steps to strengthen money market fund resiliency.
U.S. Securities & Exchange Commission 2025-01-17
U.S. Securities and Exchange Commission Commissioner Jaime Lizárraga issues farewell statement as his term ends
SEC Commissioner Jaime Lizárraga issued a farewell statement, highlighting efforts to modernize the SEC's regulatory framework and enhance market transparency. Key initiatives included updates to mutual fund disclosures, strengthened insider trading rules, and reforms to stock and Treasury market structures. Lizárraga also emphasized enhanced executive compensation disclosures, expanded privacy protections, and new cybersecurity and climate risk disclosure requirements for public companies.