Letter to the SEC Team
To the SEC Team,
As I reflect on my journey, I am reminded of how interconnected our paths can be. I began my career with the Commission in 2006 as legal counsel to Commissioner Paul S. Atkins, alongside fellow counsel Hester Peirce. Today, it fills me with immense pride to witness Paul taking the oath as the new Chairman of our Commission.
Transition and Reflection
The transition initiated by the electorate last November has now reached its conclusion. Serving as your Acting Chairman since President Trump appointed me three months ago has been a true privilege. I appreciate the patience and support you showed during this time of adaptation to new directives and executive orders from the President.
In these past three months, we have collectively made significant progress. You have dedicated yourselves to fulfilling our mission even as we said goodbye to many valued colleagues who chose to retire or leave the Commission.
Achievements and Milestones
Since January, we have achieved numerous milestones, including:
- Establishment of the Crypto Task Force
- Retraction of enforcement actions related to registration-only crypto cases
- Important changes regarding SAB 121
- Engagement in public discussions about the future of cryptocurrency regulation
- Updates to guidelines like Schedule 13G eligibility
- Revised FAQs for the Advisers Act marketing rule
- Issuance of Staff Legal Bulletin 14M focusing on shareholder proposals
- Ensured removal of personally identifiable information from the Consolidated Audit Trail
Important regulatory decisions included:
- Discontinuing our defense of the climate rule
- Withdrawing the appeal related to the dealer rule
- Proactively extending compliance deadlines to minimize market disruptions, especially regarding U.S. Treasury securities
Throughout this time, we have successfully managed the markets, even amidst unprecedented trading volumes. I am pleased to report that in-person Commission meetings have resumed and we managed a smooth transition back to the office.
Gratitude and Future Collaboration
None of these achievements would have been possible without your hard work and commitment. I extend my heartfelt thanks to all of you, as well as to the leaders of various Divisions and Offices, along with my dedicated team in the Acting Chairman’s office.
I eagerly anticipate returning to my role as Commissioner, continuing to advocate for the interests of investors, issuers, and market participants. I look forward to our future collaboration!
Warm regards,
Mark
