The Securities and Exchange Commission is caught in the middle of a regulatory tug of war in its final months under President Obama. The financial industry and advocates for tougher rules on Wall Street are jockeying for influence over the agency’s unfinished agenda. Financial regulators across the board have been working on a slew of projects since the financial crisis, but the SEC has lagged behind other agencies in wrapping up their work.
“We’ve been hoping for a long time that the SEC would get a lot more done than it has,” said Dennis Kelleher, president and CEO of Better Markets. “It’s starting to look a little quixotic.”
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