Who works in the SEC? Former bank/finance employees. Where will these employees go work if they decide to leave the SEC?
Source? There is a revolving door, but it’s as much between industry and the SEC as it is between it and the rest of the public sector.
Well, honestly I am surprised at how extensive the commissioners' background is in public service and/or education.
If you need people people with experience in banking and finance, especially the legal and regulatory/compliance areas, where would you do your recruiting?
A regulator that regularly pulls exclusively from industry insiders should raise eyebrows. Now whether the SEC actually pulls the majority of hires from industry insiders, that's another question I can't readily answer. Don't have those figures.