Editor’s note: This article first appeared in Human Capital, a newsletter by Washington Bureau Chief Melanie Waddell about the people who shape the financial regulatory space.
Welcome back to Human Capital, where this week we catch up with former SEC Commissioner Troy Paredes, who’s heating up the iTunes airwaves with his “Appetite for Disruption” podcast that focuses on, you guessed it — the intersection of technology and financial services, aka fintech.
The founder of Paredes Strategies LLC in New York also spends his days helping financial services firms navigate their thicket of compliance concerns.
Paredes — who was a big supporter of rigorous economic analysis of rules during his time at the commission — also shares some thoughts about the Securities and Exchange Commission’s upcoming advice-standards package, including Regulation Best Interest.
Appointed by President George W. Bush, Paredes served at the SEC during the height of the financial crisis and its aftermath (from 2008 to 2013), which included the implementation of the Dodd-Frank Act — of which he’s not a fan.
Paredes holds a bachelor’s degree in economics from the University of California, Berkeley, and earned his J.D. from Yale Law School. Along with his consulting biz, he’s a distinguished scholar in residence at NYU School of Law and a lecturer on law at Harvard Law School.
As regulatory requirements “continue to mount,” Paredes says, “there’s always a need to make sure that you’re doing what you need to do in order to not only ensure that you’re complying, but more broadly that you have effective and appropriate risk management controls.”
In his mind, compliance must include the “broader effort” of effective risk management.