Commissioner Hester Peirce (Archived)
@PeirceArchived
This is an archived account of former @SECGov Commissioner Hester Peirce (January 2018 - October 2026).
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I'm not a fan of accredited investor gating, but at least we're proposing to nudge the gate open a bit:
New crypto FAQs:
My statement on the Inn Ex, as I am calling it:
The innovation exemption is an actual thing:
Worth staying awake for this one:
The transfer agent rule proposal, more than a decade in the making, is finally out. We welcome comment on all aspects, including implications for tokenization: and
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My statement on Reg Crypto Assets:
Reg Crypto is out!
Some thoughts on vaults and onchain lending:
We finally proposed an e-delivery rule!
Trading suspensions are consequential events for the companies involved, and the process for reviewing them matters. I explain why in the concurrence at the end of this Commission opinion:
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Peirce (almost) out:
If people want to understand what synthetics mean to me in this context, see the staff statement on tokenization, which distinguishes tokenized versions of issuer-sponsored stocks and of stocks that SEC-registered firms hold for their customers from synthetic instruments that provide exposure to stocks.
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I appreciate the interest in--but not the hyperbole about--the contemplated innovation exemption for the onchain trading of tokenized NMS stock. Keep in mind: I've always expected that it'd be limited in scope & would facilitate trading only of digital representations of the same underlying equity security that an investor could purchase in the secondary market today, not synthetics.
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I appreciate the interest in--but not the hyperbole about--the contemplated innovation exemption for the onchain trading of tokenized NMS stock. Keep in mind: I've always expected that it'd be limited in scope & would facilitate trading only of digital representations of the same underlying equity security that an investor could purchase in the secondary market today, not synthetics.
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TODAY 🚨: The SEC proposes transformative reforms to help public companies conduct registered offerings & simplify reporting requirements.
These reforms are designed to increase efficiency, flexibility, & cost savings for public companies.
Full release:
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My comments at today's Financial Markets Regulation Conference:
As markets move onchain, it's time to work on definitions of key terms like broker, dealer, exchange, and clearing agency. Today's speech by Chairman Atkins:
Today the SEC proposed a rule to make quarterly reporting optional. Let us know what you think: and
I'll be at the SIFMA Operations conference in Florida on May 12. If anyone wants to meet with me, email CommissionerPeirce@sec.gov with Florida in the subject line and a brief description of what you'd like to discuss.
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New SEC staff statement on interfaces:
And why we need rulemaking (so sharpen your pencils to weigh in):
