April 2023 Newsletter: Insight From the Front Lines: Congressional Leaders and Regulators Share Industry Views at STA’s Washington DC Spring Update

On Wednesday, April 19, STA hosted its 2023 Washington DC Spring Update, a virtual event that brought together congressional, regulatory and business leaders shaping the future of the U.S. securities industry. Attendees had the opportunity to hear directly from the lawmakers and regulators responsible for the supervision of our markets and obtain a deeper understanding of their priorities and proposed initiatives.

With SEC Chair Gary Gensler’s contentious equity market structure proposals, recent flux in the banking industry and notable cases of turbulence in the digital assets space all serving as the backdrop, this year’s agenda was packed with insightful discussion on the most critical, timely issues facing our nation’s market structure. Check out some of the highlights below.

In his interview, SEC Commissioner Mark T. Uyeda discussed the SEC’s perspective on key industry trends and recent efforts to facilitate transparency and liquidity in the face of market fluctuations. He touched on some of the major themes covered in SEC Chair Gary Gensler’s recent testimony before the House Financial Services Committee, addressing concerns surrounding the commission’s rulemaking process and enforcement pertaining to definitions surrounding digital assets. Uyeda also spoke on the SEC’s regulatory models for banks and securities firms, as well as industry criticism that the current regulatory environment is “hostile” and a “hinderance” for small businesses. “If you believe the efficient markets hypothesis, then there’s risk/reward ratio…We want low barriers to entry, and that’s the price — some companies will fail and be replaced by better ones,” he stated.

Read the full newsletter here.