SEC rulemaking in 2020: what to expect

Author: IFLR Correspondent | Published: 14 Jan 2020

by Anna Pinedo, partner at Mayer Brown

Securities and Exchange Commission (SEC) chair Jay Clayton has taken most of the mystery out of securities lawyers’ predictions regarding future SEC rulemaking. During his tenure at the SEC, Chair Clayton has revamped the SEC’s rulemaking agenda published under the Regulatory Flexibility Act, often referred to as the "reg flex agenda", in order to narrow the list of proposed rulemaking actions to those that the SEC reasonably expects to complete within one year. By tailoring the list, there is greater transparency regarding planned actions. As a result, the predictions noted below, which may have lost their crystal-ball like qualities, have a higher probability of coming to pass. 

While the reg flex agenda is shorter than in prior periods, it still sets forth an extensive list of measures, some of which relate to market structure issues, the regulation of investment funds, and...