Gensler SEC Nomination to Get Senate Banking Vote Today

The SEC’s Regulation Best Interest, however, was not discussed during the hearing.

In his prepared remarks, Gensler stated that when “the SEC does its job — when there are clear rules of the road and a cop on the beat to enforce them — our economy grows and our nation prospers. But when we take our eyes off the ball — when we fail to root out wrongdoing, or to adapt to new technologies, or to really understand novel financial instruments — things can go very wrong. And when that happens, people get hurt.”

He promises to continue the SEC’s goals of “strengthening transparency and accountability in our markets, so people can invest with confidence, and be protected from fraud and manipulation.”