Securities and Exchange Commissioner Michael Piwowar slammed both the Federal Reserve and the Financial Stability Oversight Council (FSOC) in a speech at the American Enterprise Institute conference in Washington, D.C., on Tuesday, vowing to push back against their increasing encroachment into the SEC’s turf, Reuters reports.
Piwowar said that FSOC—a panel of regulators created under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act—has “gained notoriety for, among other things, being unaccountable and nontransparent.” The panel is chaired by Treasury Secretary Jack Lew.
