Gary Gensler: Providing A Gift Beyond Definition?
Year after year the SEC appears to be successful in regulating and governing the U.S. securities markets. Those markets are immense, complex and most difficult to regulate. Yet year after year the Commission has overall been effective in safeguarding investors while providing them with an opportunity to invest their capital in a safe and meaningful way. The difficulty of this task is multiplied by the fact that the five commissioners are from different political parties and often have strong and conflicting views.
How is this possible? The Statement on the Departure of Chair Gary Gensler, authored by three sitting Commissioners, provides insight (here): “Although as Commissioners we approach policy issues from different perspectives, there was always dignity in our differences. Chair Gensler has been committed to bipartisan engagement and a respectful exchange of ideas . . . which helped facilitate our service to the American public.”
Being “committed to a bipartisan engage and a respectful change of ideas . . .” in a world where all too often there is little to no meaningful exchange, little to no meaningful respect, and little to no meaningful effort to work together, is rare. Viewed from this prospective, Chair Gensler has brought a most significant gift not just to the Commission, but also to the American public. We should all treasure his gift and foster it. Over time it may become a gift beyond definition.