Gensler Says Assets Worth Trillions May Need Tighter Rules
- SEC chief warns about disclosures tied to SPACs, equity stakes
- He says staff is reviewing ways to toughen regulations
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Trillions of dollars in assets need more sunlight and may require tighter rules, a problem highlighted by this year’s disruptions in financial markets, Securities and Exchange Commission Chair Gary Gensler said Wednesday.
Gensler, speaking in a Bloomberg Television interview, said he’s directed the agency’s staff to review how to toughen a slew of regulations that touch everything from meme stocks to blank-check companies. He made clear that the SEC could also do more to keep tabs on large asset managers -- an issue underscored by the March collapse of Archegos Capital Management.