Winds Of Change In SEC Following New Investment Management Head Appointment

Division of Investment Management of Securities Exchanges Commission (SEC) earned itself a new Director in the form of Dalia Blass. The same was revealed by SEC, which overlooks the US investment market yesterday via a press release. This division looks after investment management industry in general and ETF in particular.

Blass’s impeccable credentials have made her all the more suited for this particular job. A scholar from Harlan Fiske Stone, Blass initially started off with Shearman & Sterling LLP London and then moved over to Ropes & Gray LLP where she has dropped her resignation mail with hopes of joining SEC. Ropes & Gray came into news when they provided advisory services to the Winklevoss concerning their bitcoin ETF bid. Her appointment surely is the Republicans way of portraying that free market and innovation shall always get a front seat in comparison to red-tape practice of democrats.

Jay Clayton who had been appointed as the chairperson of SEC by US President Donald Trump recently threw light upon Dalia’s extensive work experience at SEC and private sector dealings which has sealed her top slot as one of the agency’s most valuable asset. The ever so dynamic investment management industry’s integrity is of extreme importance to Main Street investors as well as markets. The SEC head had full faith in Dalia and her hardworking associates that the later would surely work in unison to achieve SEC’s common goal.

The new director brimming with energy feels the growing importance of asset management industry for American investors and their capital markets. Her thought provoking way of action differs considerably from “protecting the public” slogan popularised by her predecessors. Previous administration tried to safeguard public by denying them the chance of engaging in end-to-end bitcoin transactions which have come into mainstream arena since the past few years.

Their decision regarding Bitcoin ETF was finalised in February but confirmation about the same was not given until the last minute when they rejected the Bitcoin ETF application. However the re-opening of its review suggested that the new administration does not agree to the decision passed by their predecessors.