Richard Hong Predicts Improved Regulatory Environment for Financial Companies in MarketWatch
Partner Richard Hong was quoted in a MarketWatch article entitled “Retail Investors Never Had So Many Ways to Invest.” The article discussed how new technologies and innovations have changed the way retail investors interact with markets. In January, for example, the Securities and Exchange Commission gave regulatory approval for spot bitcoin exchange-traded funds (ETFs), allowing retail investors to buy exposure to cryptocurrencies through their brokerage accounts.
As SEC Chairman Gary Gensler steps down and Paul Atkins, known for his crypto-friendly stance and support of "common sense" regulations, takes over, we may see more crypto ETFs approved next year and fewer SEC lawsuits against crypto companies. Richard, a former prosecutor and SEC trial lawyer, surmised that it will be a better regulatory environment for financial companies to conduct their business. “I think there’s a sense of relief by a lot of those companies right now,” he said.
Read the full article here.
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- rhong@morrisoncohen.com
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