X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
SEC Commissioner Daniel Gallagher. Photo: AP

SEC Commissioner Daniel Gallagher said Wednesday that since the passage of the Dodd-Frank Act four years ago, the law’s rulemaking mandates have been an “unfettered distraction” for the securities regulator and that the agency has been on a “death march” to finish Dodd-Frank rulemakings that are unrelated to its core mission.

“The amount of time consumed” at the Securities and Exchange Commission on Dodd-Frank rulemakings that are “entirely unrelated to the agency’s core mission and entirely unrelated to what caused the financial crisis itself is a shame, and taxpayers should be horrified,” Gallagher told attendees at an event held jointly by the libertarian Cato Institute and George Mason’s market-oriented Mercatus Center at the Newseum in Washington.

The event was titled “After Dodd-Frank: The Future of Financial Markets.”

Gallagher opined that the root cause of the financial crisis was “failed federal housing policy and loose monetary policy,” none of which was addressed in Dodd-Frank.

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.