The Securities and Exchange Commission today announced the appointment of Deborah J. Jeffrey as Inspector General, effective May 7, 2023. Ms. Jeffrey is currently the Inspector General of AmeriCorps.
“Deb will bring incredible experience in public service and oversight to the SEC,” said SEC Chair Gary Gensler. “The Inspector General’s office plays a critical role as an independent reviewer to promote the integrity, efficiency, and effectiveness of the SEC. I thank Deb for taking on this important responsibility. I also thank Katherine Reilly, Helen Albert, and Rebecca Sharek for their rotating service each as Acting Inspector General and their ongoing dedication to the SEC.”
“Independent oversight helps government better serve the public,” said Ms. Jeffrey. “I am honored to join the Office of the Inspector General’s excellent team in taking on this vital mission at the SEC.”
At AmeriCorps, Ms. Jeffrey oversaw national service grants throughout the United States, instituted a robust enforcement program to combat grant fraud, and championed efforts to improve financial management and accountability. Before becoming AmeriCorps’s Inspector General in 2012, Ms. Jeffrey was in the private practice of law for 25 years. She represented individuals and entities in white-collar criminal defense and civil enforcement proceedings (including the Enron cases); defended senior government officials in high-profile criminal, Congressional and Inspector General investigations; and advised lawyers and law firms concerning ethics and risk management. As Vice Chair of the District of Columbia’s attorney disciplinary system, Ms. Jeffrey is the author of more than 30 appellate opinions in disciplinary prosecutions. Ms. Jeffrey began her legal career as a law clerk to the Honorable Harrison L. Winter, Chief Judge of the U.S. Court of Appeals for the Fourth Circuit. She holds degrees from Johns Hopkins University and Harvard Law School, where she served as Editor-in-Chief of the Harvard Civil Rights-Civil Liberties Law Review
The Office of Inspector General is an independent unit that promotes the integrity, efficiency, and effectiveness of the SEC’s critical programs and operations through rigorous and objective oversight.
Under the Inspector General Act of 1978, Inspectors General have a dual and independent reporting relationship to the Commission and to Congress. Appointments are based on integrity and ability in such areas as accounting, auditing, financial analysis, public administration and law, without regard to political affiliation.
Background: National securities exchanges (“exchanges”) that trade NMS stocks maintain pricing schedules that set forth the transaction pricing they apply to their broker-dealer members that execute orders on their trading platforms. As self-regulatory organizations under the Exchange Act, exchanges are subject to unique principles and processes that do not apply
Highlights: * "Most of the banks represented in this room today—and the vast majority of banks in the country—would not be subject to the Board's recent "endgame" proposal on bank capital. The proposal affects only the very largest banks." * "The proposal is projected to raise capital for large banks.
Below is the text of the proposed rule change. Proposed new language is underlined; proposed deletions are in brackets: Wut Mean? (I think): My understanding is there are 2 options plays that require margin, sold puts and sold calls. A sold put means that you need to have margin for