A Creative and Cooperative Balancing Act | Commissioner Peirce

Commissioner Peirce argues that well-balanced capital market regulation, rather than heavy-handed rules, gives investors the confidence to participate and lets new competitors and technologies enter the market. She cites the fall in U.S. public company listings from 5,243 in 2004 to 4,862 in 2024 and suggests some public company disclosure requirements may be extraneous or harmful. She describes a potential SEC conditional exemption for firms using distributed ledger technology to issue, trade and settle tokenized securities, and says she has advocated bilateral cooperation that would let foreign sandbox participants run experiments in the United States.