Allison Herren Lee Named Acting Chair of the SEC

SEC

The Securities and Exchange Commission announced today that President Joseph R. Biden, Jr. has designated Allison Herren Lee as Acting Chair of the agency.

Acting Chair Lee was sworn in as Commissioner on July 8, 2019 after unanimous confirmation by the Senate. She has written, lectured, and taught courses internationally on financial regulation and corporate law. She served on the staff of the SEC for over a decade in various roles, including as counsel to Commissioner Kara Stein and as Senior Counsel in the Division of Enforcement’s Complex Financial Instruments Unit. In addition, she has served as a Special Assistant U.S. Attorney, was a member of the American Bar Association’s former Committee on Public Company Disclosure, and participated on a USAID project in Armenia, assisting in the drafting of periodic reporting and disclosure provisions for a comprehensive law of the Republic of Armenia on Securities Market Regulation. read more »

CFTC Names Rostin Behnam Acting Chairman

CFTC

The Commodity Futures Trading Commission announced that the members of the Commission have unanimously elected Commissioner Rostin Behnam as Acting Chairman effective immediately. Acting Chairman Behnam succeeds Heath P. Tarbert who served as Chairman since July 15, 2019, and announced his departure from the role earlier today. read more »

Trump’s outgoing antitrust enforcer Delrahim explains the government’s push against Big Tech

CNBC

Over more than three years at the helm of the Justice Department’s Antitrust Division, Makan Delrahim tried to define antitrust enforcement as much by what it is not as by what it is.

It is not only about whether prices go up or down for consumers — a yardstick that would make enforcement of tech platforms offering their services at zero cost to consumers virtually impossible to pursue.

It’s also about the quality of services for consumers and whether they have viable alternatives to turn to if they’re not up to par. read more »