The SEC continues to improperly insert itself between officers and directors and their insurance defense policies.
The U.S. Securities and Exchange Commission (SEC) continues to make headlines, not always in a positive fashion, regarding its often-changing statements on major enforcement priorities in areas like digital assets and environmental and social governance disclosure. On September 14, 2021, Gary Gensler, the current SEC chair, before the U.S. Senate Banking Committee. During the committee’s questioning, Senator John Kennedy pointedly Gensler the following question: “The people and the companies you regulate as chairman of the SEC, do you consider yourself their daddy?” Of course, Gensler denied such a characterization. But the SEC’s actions speak louder than its denial.