In First Public Speech, SEC Chairman Discusses Importance of IPO Market
Jay Clayton gave his first public speech on Wednesday as Securities and Exchange Commission chairman, telling the Economic Club of New York that he’s in charge of an agency that has much more discretion over its agenda than his predecessor, Mary Jo White.
In his speech, Clayton focused on disclosure overload and the unintended consequences of overregulation for hampering capital formation. In particular, he said,” the reduction in the number of U.S.-listed public companies is a serious issue for our markets and the country more generally” because that limits the ability of retail investors to participate in their growth.
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