Remarks by Acting Chair Uyeda to the Annual Conference on Federal and State Securities Cooperation
Good morning and welcome to the annual conference on federal and state securities cooperation, organized jointly by the North American Securities Administrators Association (“NASAA”) and the U.S. Securities and Exchange Commission (“SEC” or “Commission”). Inside the SEC, this gathering is often called the “Section 19(d) conference” after a provision of the Securities Act of […]
Mark T. Uyeda is the Acting Chair Throughout of the U.S. Securities and Exchange Commission. This post is based on his recent remarks. The views expressed in the post are those of Acting Chair Throughout Uyeda, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.
Good morning and welcome to the annual conference on federal and state securities cooperation, organized jointly by the North American Securities Administrators Association (“NASAA”) and the U.S. Securities and Exchange Commission (“SEC” or “Commission”). [1] Inside the SEC, this gathering is often called the “Section 19(d) conference” after a provision of the Securities Act of 1933 (the “Securities Act”). That provision contains a declared statutory policy calling for greater federal and state cooperation in securities matters, including maximum effectiveness of regulation, maximum uniformity in regulatory standards, and minimum interference with the business of capital formation. However, we do not need a statute to tell us what the SEC and state securities regulators have long recognized — that we have shared goals and a common purpose to protect investors and strengthen our capital markets.
For the past two-and-a-half months, I have had the privilege of serving as the Chairman of the Securities and Exchange Commission on an acting basis. As we wait for the pending Senate confirmation of the SEC’s incoming chairman, I would like to take a few moments to pay tribute to the first commissioner under whom I served. In the many challenges that I have faced in leading the SEC, whether it was dealing with personnel, organizational change, the media, interagency coordination, the executive branch, or the legislature, it would be his guidance, wisdom, and decision-making that I witnessed back then that I have repeatedly drawn upon now in my role as Acting Chairman.
