US Government Shutdown Would Hobble SEC Oversight, Gensler Says

US Securities and Exchange Commission Chair Gary Gensler says a government shutdown would mean normal oversight of markets would be impossible. He also talks about regulating the crypto space and new rules for naming funds. Gensler speaks with Bloomberg’s Kailey Leinz in Washington.Source: Bloomberg

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By Kailey Leinz

September 20, 2023 at 5:11 PM UTC

This article is for subscribers only.

The Securities and Exchange Commission’s ability to police markets would be hobbled by a US government shutdown, according to the head of the regulator.

SEC Chair Gary Gensler said the watchdog would be severely limited by a possible federal work halt at the end of this month. Wall Street’s main regulator might not be able to fulfill some basic functions, he said in an interview with Bloomberg Television.