The SEC has always been overworked and understaffed.
However, the people at the SEC who would be leading on the rule-making proposals are largely in the Office of the General Counsel, and the Chief Counsel’s offices in the various operating Divisions and SEC Offices. (Corp. Fin., Enforcement, etc).
Truth be told, they do a lot of busy work, and, generally speaking, don’t really add a lot of substance to the SEC’s main task of protecting investors. In fact, a primary function of OGC is to do rule-making, so the supervisors and staff attorneys there have no reason to grumble. Actually, neither do the folks in the various Chief Counsel’s Offices. Frankly, they rarely add that much value to the line staff’s work.
Rule-making requires a lot of coordination and interaction between SEC offices and people. That’s hard to do when everyone is “working” from home, and it slows everything down from the SEC’s standard crawl when rule-making to an absolutely glacial grind. Bring them back into the office; that’ll speed things up and get more accomplished.
How do I know this? I was an attorney with the SEC for decades, working in Corp. Fin. and Enforcement.
The SEC has always been overworked and understaffed.
However, the people at the SEC who would be leading on the rule-making proposals are largely in the Office of the General Counsel, and the Chief Counsel’s offices in the various operating Divisions and SEC Offices. (Corp. Fin., Enforcement, etc).
Truth be told, they do a lot of busy work, and, generally speaking, don’t really add a lot of substance to the SEC’s main task of protecting investors. In fact, a primary function of OGC is to do rule-making, so the supervisors and staff attorneys there have no reason to grumble. Actually, neither do the folks in the various Chief Counsel’s Offices. Frankly, they rarely add that much value to the line staff’s work.
Rule-making requires a lot of coordination and interaction between SEC offices and people. That’s hard to do when everyone is “working” from home, and it slows everything down from the SEC’s standard crawl when rule-making to an absolutely glacial grind. Bring them back into the office; that’ll speed things up and get more accomplished.
How do I know this? I was an attorney with the SEC for decades, working in Corp. Fin. and Enforcement.