Tuesday, December 15, 2020

2020 year in review: SEC and CFTC rulemaking and enforcement developments

By Anne Sherry, J.D., Amanda Maine, J.D., Amy Leisinger, J.D., Lene Powell, J.D., Rodney F. Tonkovic, J.D., Brad Rosen, J.D., Jay Fishman, J.D., John M. Jascob, J.D., LL.M. and John Filar Atwood

In 2020 the SEC and CFTC pursued aggressive regulatory agendas, often against stiff opposition, despite being hampered by the COVID-19 pandemic. Both agencies spent considerable time addressing COVID-related issues that arose for their constituents while still trying to modernize the federal rulebook and maintain credible enforcement. The SEC issued 31 final rule releases compared to 19 last year, and the CFTC finalized 34 rule changes. As in 2019, many of the year’s highly-visible rule changes, particularly at the SEC, passed by partisan split votes subject to sharply-worded dissents. With the impending departure of Chairmen Jay Clayton and Heath Tarbert, some of the controversial rule changes could come under scrutiny by new agency leaders in 2021.

Get the overall picture of developments at the SEC and CFTC in 2020, and a look ahead at coming year, with "The SEC and CFTC in 2020: Pandemic hangs over Clayton’s and Tarbert’s regulatory curtain call."