US financial markets have long been burdened on patchworks with outdated and excessive paternal rules. Meanwhile, the establishment of the government’s establishment of digital assets regulatory system has suppressed innovation in combination with the aggressive persecution of the industry. Naturally, the rest of the world rose to the forward and left the United States.
Now, under the guidance of President Trump, we are standing on a historic change. His “the largest deregulation campaign in history” and “revolution of common sense” remove artificial boundaries, abolish outdated philosophy, and regulate the ecosystem of financial markets and digital assets. We provide rare opportunities to do. Instead of being restrained by reactive regulations designed for past crises and technology, you can design flexible and positive frameworks that promote innovation.
As you imagine these frameworks, I remember the wisdom shared by Harvey Pitt (2001-2003), chairman of the Securities and Exchange Commission. To concrete our market. Pit compared these to the Ten Commandments of God. This is a clear principle that governs the actions with the industry left to meet them.
In many cases, regulatory authorities and market participants suffer from the details of normally law and miss their core intentions. Although the norms, standards, and rules are located, the “Ten Commandments” proposed here provide a powerful foundation for future frameworks. The important thing is to understand the purpose of the Federal Securities Law.
In their core, these laws manage trading, including securities, such as corporate stocks, loans, and investment shares. When people entrust you to you, you have a specific obligation to them. Securities law is a disclosure system designed to secure fair and transparent replacements that provide investors with the information necessary to evaluate investment risks and rewards.
Read more: Trump said to lead a SEC in consideration of the cryptographic lawyer Teresa Goody Gillen.
These laws appeared after the 1929 stock market crashed. This was promoted by non -ethical practices such as insider transactions and stock operations, and worsened due to asymmetry information between buyers and securities sellers. The 1933 Securities Law and the 1934 Securities Transactions Law prevent these abuse, protect investors who acquire capital, invest in capital, and minimize the burden on honest business activities. Was established to guarantee that it is fair and efficient.
Despite good intentions, these laws are overly complicated, breathtaking in competition, and limiting investors freedom. In order to reconsider the regulations of financial markets, we must return to the principles of these laws in light of the digital assets subject to emerging technology and securities law.
Based on the vision of Pit, I distinguished the core value of the market participant in the following 10 commandments for a reliable market.
You will disclose material information. Complete and fair disclosure is the core of securities law. The issuer must provide investors with truthful, complete, and non -dependent substance information and make financial decisions based on information. The fact that you hide or incorrect important information that affects the expectations of profits does prevent trust and the perfection of the market. Scams and market operations distort the true value of securities and damage investors and markets. Preventing a deception -like practice helps to ensure fairness. You should not trade with material private information. Insider transactions have unfair advantages to those who can access confidential information. This guarantees a fair competition for all market participants. We will convey the truth about your financial health. Since financial statements must be accurate and transparent reflecting the true financial status of companies, investors can accurately evaluate the risk and make financial decisions based on information. All investors need to access important information and opportunities equally. This guarantees fairness and prevents insider advantages and discriminatory practices. These clarify related risks. Investors must be informed of investment -related risks. That way, you can make a choice according to your financial goals and risk tolerance. Market participants who are obliged to trust and responsible for financial experts and corporate directors must act for the benefits of clients and shareholders, not their own. , You will disclose them. Market participants need to avoid conflicts or minimize conflicts, but if they are inevitable, they need to disclose a dispute. By transparency, investors understand the potential bias, make decisions, and maintain trust. The market must be operated based on true demand and supply without artificial distortion. This promotes trust and fair price setting. You will promote an efficient and organized market. The market must work smoothly with the transparent price setting and equal access of all participants. This promotes market stability and investor trust.
By focusing on these core principles, you can create adaptable regulatory frameworks to respond to technology progress and avoid outdated law restrictions. This is the time of the financial regulation earthquake for the future market and innovation. By promoting innovation, you can build a financial system with a basis for the future by securing clarity, fairness, and order.
