Gary Gensler, chairman of the Securities and Exchange Commission (SEC), is set to appear before two Congressional committees this week.
On Tuesday, Gensler will testify before the House Financial Services Committee, and then on Thursday, he will testify before the Senate Banking Committee.
At the hearings, Gensler is expected to be grilled by lawmakers on a range of topics, including the SEC’s current rules and enforcement actions against market participants, short-selling regulations, disclosure requirements for companies going public, and changes to the regulatory framework for cryptocurrency markets.
Gensler’s testimony is expected to provide insights into a number of key issues facing the agency as it implements sweeping changes to its regulatory framework. In particular, lawmakers are likely to question Gensler on how the SEC has responded to the GameStop saga and how it plans to address short-selling in the future.
Additionally, lawmakers will likely probe Gensler on the SEC’s plans to modernize its regulatory framework in light of the cryptocurrency market developments, particularly as it relates to initial coin offerings and digital assets.
Observers expect Gensler to strike an optimistic tone on the SEC’s actions, stressing its efforts to modernize outdated rules, create more consistency across markets, and better protect investors.
