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SEC Chairman Gary Gensler Testifies before Senate Committee

The testimony given by Chairman Gensler indicates a top to bottom review of many securities or bond markets

· SEC,asset managers tech,buyside technology,Bond Market

Dear Colleague,

  In his testimony on 9/14/21 before the U. S. Senate, SEC Chairman Gary Gensler outlined numerous new regulatory initiatives that the SEC and the staff of the Commission are and will be reviewing, including the issue of what is behind “green” labels being marketed by funds. Chairman Gensler said he wants to be sure that investors understand their choices in this area.

  The testimony given by Chairman Gensler indicates a top to bottom review of many securities or bond markets. It also suggests taking care of unfinished initiatives, such as in the equity market where technology has been expanding for the last 10 years or more. How do market makers interact? And how do trading platforms compete?

  The bond markets and security-based swaps markets are growing, and practices need to be reviewed to assure that these markets remain competitive and protect the actual users and beneficiaries of these instruments.

  Last but not least, the Crypto Assets Markets seem to have some regulatory gaps. Chairman Gensler indicated in his prepared remarks before the Senate Committee on Banking, Housing and Urban Affairs that there is not enough investor protection in crypto finance, issuance, trading, or lending. Chairman Gensler said we can do better.

  Asset Managers Tech will be following all of the above-mentioned areas identified by Chairman Gensler. Moreover, our trade group simultaneously reviews developments relating to COVID - 19 and Climate Change.

   Indeed, the demands on technology in the 2020’s are two-fold; they affect both modernization and the pandemic, in our view. On the one hand, the above-mentioned items covered in Chairman Gensler’s testimony are technology-driven. But so, too, is Working From Home, and the innovative use of Cloud Computing, for example, to facilitate remote working during the pandemic.

  In our experience, AMT believes buyside firms are currently being called upon to adjust to “industry innovations” with regard to new products and services, on the one hand, as well as pandemic-driven “medical science” changes, on the other hand, to assure the safety and welfare of their own employees. We’ve concluded that industry innovations and medical science matters need to be analyzed and addressed simultaneously in the 2020’s; otherwise, an investment management firm could run the risk of a loss of confidence with their two main constituencies.

  Please feel free to click on our Zoom links to participate in our video conferences regarding the above topics. Dr. Stanley Zaborowski serves as AMT’s Medical Adviser. Dr. Zaborowski works closely with Hanover Township, N.J. on COVID – 19 matters affecting that community. He also coordinates local pandemic practices with the Office of Governor Murphy of the State of New Jersey.

  We hold video conferences every Thursday from 9:00 am to 9:30 am ET. There is no fee or charge for industry members who would desire to attend these sessions.

Stay Safe,

Joe Sack, President, Asset Managers Tech

Mobile: 1-914-648-0088