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A Pro-Business SEC Has Some Investors Worried

Is the agency's main job to police markets, or should it do more to help companies raise capital?

By Robert Schmidt and Ben Bain, Bloomberg | Updated on February 23, 2017

When Donald Trump interviewed Jay Clayton to be his chief securities regulator in December, the then-president elect was fixated on the steep decline in U.S. initial public offerings.

During the meeting at the Mar-a-Lago club in Florida, Trump even cited statistics on the drop, which started two decades ago, said people familiar with their discussion. He was particularly concerned that more companies were choosing to sell their shares overseas, rather than on the New York Stock Exchange and the Nasdaq Stock Market.

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