Today we will receive testimony from securities and Exchange Commission chairman jay clayton regarding the work and the agenda of the sec. Thank you, mr. Chairman, for attending here today. Oversight of the sec is a critical function of this committee and it has an important threepart mission, to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public a
Fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public and nonpublic data. If this data were subject to a cyber breach, it could have severe consequences to the markets, market partis pants and to the American Public. I was disturbed to learn that the sec suffered a cyber breach of its edger system in 2016 but did not notify the public or even all of its commissioners until it wa
Cspan2. The chair of the securities and Exchange Commission, jay clayton, testifies about s. E. C. Priorities and the agenda including a data breach last year. Also the recent equifax data breach which affected 143 million americans. The Senate Banking Committee Held this hearing last week. Today we will receive testimony from securities and Exchange Commission chairman jay clayton regarding the work and the agenda of the s. E. C. Thank you mr. Chairman for attending here today. Oversight of the s. E. C. Is critical function of this committee. The s. E. C. Has an important threepart mission to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is more important than the other. The s. E. C. Increases transparency and trust in the u. S. Stock market providing investors with the Material Information they need to make informed Investment Decisions. It also helps investors participate in our markets on a fair footing
[applause] thank you are coming. Its my pleasure to introduce to you, commissioner michael bueller. He was appointed to the Security Commission by president obama and is sworn in an august 2013. He was delegated by President Trump to be in german in that capacity from january 23rd of this year to may 4th. His term expires in june 2018. Previously, dr. Pirowar worked at the sec in the office of Economic Analysis with the division of economic and risk analysis as an academic scholar from iowa state university. He was a professor of finance at iowa state university, earned a ba in Foreign Service in International Politics that can take an from georgetown and phd from penn state. Today we are not going to have a set presentation, but instead a formal question and answer format. Im going to ask mr. Pirowar a number of questions and then we will open it up to the audience so you all can participate in the discussion. Commissioner pirowar come with the new chairman of the securities and Excha
Good afternoon. Welcome to the Heritage Foundation and the Louis Lehrman auditorium. Welcome to those that join us on the website on all of these occasions and for those here in the house we would ask a courtesy check to see that the various mobile devices have been silenced or turned off and for those watching online youre welcome to send comments anytime by emailing the speaker. Leading the conversation this afternoon is David Perkins senior fellow for Economic Policy at the institute for economic freedom. Before joining heritage he served as the general counsel witgeneral counselwith the natis association and seven chief Financial Officer and general counsel of the alliance for retirement prosperity and was a part or at the growth of Public Policy and government relations. Please join me in welcoming david. [applause] thank you for coming. Its my pleasure to introduce to you the commissioner michael buehler. He was appointed to the securities and Exchange Commission by president oba