“The growth of the economy in large part depends on the capital markets that fuel our businesses and drive employment. For these markets to effectively commercialize the next great idea or product, our capital markets have to be fair, transparent and relatively fraud/crime-free. That’s where investor confidence comes from, which is what causes people to put their money into bonds and, especially, stocks.
“The primary and often the only regulator of those capital markets is the Securities and Exchange Commission (SEC). It is responsible for implementing and enforcing the laws and rules that enable the capital markets to work. Corporate finance, or ensuring that capital is available to US businesses large and small, is its ultimate mission. That is why the SEC is so crucial and why the next SEC Chairman is such an important appointment.”
Read Dennis Kelleher’s full post here