Want to get this daily news briefing by email? Here’s the sign-up.
WHAT WE’RE WATCHING
S-E-C YA LATER - Gary Gensler, the new SEC chairman, is pushing for tougher enforcement on a raft of investment and compliance issues. But, in the process, he seems to be pushing some of the agency’s senior attorneys toward the exits. As Law.com’s Bruce Love reports, the SEC has seen high attorney attrition this year, according to a tally of moves from the agency, and those talking with internal SEC lawyers are expecting more attorney exits. Some former SEC lawyers said Gensler’s propensity to break up handshake settlement deals that were in process before he became chairman in April has created some distrust with current SEC staff, as well as his hard-charging approach to managing SEC lawyers. Meanwhile, law firm hiring demand appears to be also be driving some departures. “He’s an aggressive regulator—and people have to work,” said one lawyer who worked with Gensler at the Commodity Futures Trading Commission. “But in this current environment—when the lateral market for attorneys is so buoyant—I could see why folks would want to leave.”