SEC accidentally uploads Gary Gensler’s draft speech
The Securities and Exchange Commission (SEC) has accidentally uploaded Gary Gensler’s draft speech on the “public good of disclosure“ complete with suggested tweaks and notes. The speech, posted to the SEC’s website today, was prepared for the Peterson Institute for International Economics and archived by users online. It Features internal comments that show edits on repetitive sentiment, “diplomatically helpful” suggestions, and general cuts to the speech. For instance, after a line about large financial institutions restructuring “in the face of a potential failure,” an edit suggests, “I strongly recommend that a sentence be placed here (or somewhere in the first part of the speech) to reassure markets that you are not making the speech because you think there is an imminent crisis ” (emphasis ours). Another edit suggests, “It may be diplomatically helpful to acknowledge that we have had constructive dialogues with many regulators,” before highlighting that the UK’s B...