Senate Confirms Peirce, Crenshaw as SEC Commissioners

She also highlighted two aspects of Regulation Best Interest compliance that she views as especially critical: ensuring firms are held “accountable when they are not appropriately mitigating conflicts of interest” and that Form CRS actually provides “valuable” information.

Peirce stated at the July 21 hearing that assessing the agency’s crowdfunding rule would be a priority item for her. Has it “lived up to its potential or are there things that we could do to make them work better?” she asked.

Another priority, Peirce continued, is to “try to work on the commission’s attitude toward innovation, which has been highlighted when we consider crypto.” She has been dubbed “Crypto Mom” by advocates of digital currency.

Crypto “is clearly going to be here to stay and I would like us to set up a regulatory framework that works well for crypto,” Peirce said. “I think we have some of the structure in place to do that, but we have a lot more work to do.”

Earlier, Peirce was a senior research fellow at George Mason University’s Mercatus Center, served on Sen. Richard Shelby’s staff at the Senate Banking Committee, and worked as a staff attorney at the SEC.