Empty Seats at Regulators Thwart Trump’s Dodd-Frank Plans

The transcript discusses the regulatory challenges faced by the SEC and CFTC under the Trump administration, highlighting the impact of reduced commissioners and potential budget cuts. Jay Clayton's nomination as SEC chairman is explored, focusing on his goals for economic growth and IPO accessibility. The transcript also addresses concerns about funding for these agencies amidst political dynamics.

What is the current situation with the number of commissioners at the SEC and CFTC?

• There are only two commissioners, one from each party.

• There are three commissioners, all from the same party.

• All five commissioner positions are filled.

• There are no commissioners currently.

What is one of Jay Clayton's main focuses for the SEC?

• Increasing the number of commissioners.

• Increasing the number of IPOs in the US.

• Focusing solely on enforcement actions.

• Reducing the number of regulations.

What challenge does Jay Clayton face even if confirmed as SEC chairman?

• He will have to reduce the number of IPOs.

• He will have full control over the SEC.

• He needs the support of the Democratic commissioner to move forward.

• He will not face any challenges.

What is a concern regarding the funding of regulatory agencies?

• They will not face any funding issues.

• They will have unlimited funding.

• Their budgets might be cut.

• They might receive more funding than requested.

Why is it important for regulatory agencies to maintain a balance in their budget?

• To avoid being perceived as too strict on enforcement.

• To increase their number of commissioners.

• To maintain effective regulation without appearing lenient.

• To ensure they are seen as lenient on Wall Street.