Benzinga - The Securities and Exchange Commission (SEC) recently celebrated its 90th anniversary, an event highlighted by Chairman Gary Gensler.
Gensler channeled his inner Taylor Swift by highlighting the "eras" the SEC has gone through.
What Happened: Gensler drew comparisons between the “eras” of the SEC and the various stages of Taylor Swift’s latest record-breaking “Eras Tour,” which showcases different parts of her career.
The SEC chair said in a video posted on X that, in addition to Swift’s talent, “there's also a lot of value in sharing one's story."
Gensler mentioned that the SEC has a wealth of talent and history, emphasizing different eras, starting with “The Roosevelt Era.”
Under President Franklin Roosevelt, securities laws in 1933 and 1934 helped create the SEC, which was established on June 6, 1934. Additional securities laws signed under Roosevelt helped form "the foundation of our capital markets," Gensler said.
"The SEC was created to ensure that the markets worked free of fraud and market manipulation."
Other eras highlighted by Gensler included "The Rebirth Era," "The Eighties Era," "The Post Crisis Era" and "The Current Era."
Related Link: SEC Chair Gary Gensler Fields Questions On AI, ‘Roaring Kitty’ And Congressional Trading: ‘Disclosure Doesn’t Necessarily Protect A Bad Actor’
Why It's Important: When discussing the “Current Era,” Gensler highlighted the rapid pace of change in the markets, encompassing artificial intelligence, social media, influencers, and the global pandemic.
Gensler also mentioned the "dramatic" increase in retail traders. The SEC chairman further identified SPACs, meme stocks and cryptocurrency as recent additions to the market that require regulation.
"We at the SEC continue to consistently apply the rules and update them where appropriate," he said, adding that the SEC's mission is to protect investors.
"Regardless of the era, our financial system remains seated in the middle of the economy," he noted.
To conclude the video, Gensler referenced Taylor Swift’s ninth studio album titled “Evermore.”
"The SEC's mission is meant to last for evermore," he said.
The video received numerous negative reactions, with many questioning why Gensler focused on criticizing retail traders and cryptocurrency instead of being tougher on Congress trading.
Read Next: Unlike Bitcoin, SEC Chief Gary Gensler Didn’t Vote On Spot Ethereum ETF Approvals
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