TheCorporateCounsel.net

One item that doesn’t deserve to get lost in the avalanche of last week’s news is the joint statement from Commissioners Uyeda, Peirce and Crenshaw on the departure of former SEC Chair Gary Gensler.  This excerpt gives you a sense of its tone:

Although as Commissioners we approached policy issues from different perspectives, there was always dignity in our differences. Chair Gensler has been committed to bipartisan engagement and a respectful exchange of ideas, which has helped facilitate our service to the American public. For that we are deeply grateful.

We have finalized rules that have promoted market integrity and corporate governance, streamlined open-end fund disclosures, reduced settlement times, and passed needed reforms to the plans corporate insiders use to buy and sell company stock, among many other policy changes. Together we have returned billions of dollars to investors harmed by violations of the securities laws and helped educate the public on the risks and rewards of investing their savings. This record helps cement Chair Gensler’s legacy of unwavering commitment, not only to public service, but to the American investor.

It’s no secret that Commissioner Uyeda and Commissioner Peirce disagreed strenuously with many of the actions taken by the SEC under Gary Gensler’s leadership, so the graciousness of their statement saluting his service is notable. As I read it, I couldn’t help thinking about the old “Looney Tunes” cartoons featuring Ralph Wolf and Sam Sheepdog. Our Boomer & Gen X readers may recall that Ralph’s job was to steal sheep, and Sam’s job was to clobber Ralph. Both gave it their all during working hours, but they were chums before and after the whistle blew. You know, I think there’s a pretty good civics lesson for all of us baked into those old cartoons!

– John Jenkins