Chair Clayton recently provided Congressional testimony in connection with the review and approval of the Securities and Exchange Commission’s funding. In his prepared remarks, Chair Clayton focused on a number of the initiatives undertaken by the Commission to promote investor education and address investor protection issues. For example, he pointed to the Commission’s new tool, the SEC Action Lookup for Individuals, or SALI, which provides another means to identify bad actors. He identified the Commission’s areas of focus, which include: (1) leveraging technology and enhancing cybersecurity and risk management; (2) facilitating capital formation; (3) protecting Main Street investors, including through enforcement actions targeting insider trading, market manipulation and accounting fraud; and (4) maintaining market oversight. The Chair also noted that funds will be allocated to strengthening the Commission’s cybersecurity efforts and announced the creation of a new position, the Chief Risk Officer. Turning to capital formation, Chair Clayton noted as continuing priorities taking action on the definition of smaller reporting companies and completing the FAST Act-required rulemakings. The full prepared testimony may be found here.