SEC Veteran Hester Peirce Departs Amid Unfinished Policy Initiatives

Hester Peirce, a nearly nine-year veteran of the Securities and Exchange Commission (SEC), is leaving the agency on October 2. She expressed disappointment that several key policy issues remain unfinished during her tenure.

Peirce pointed to the SEC's recent efforts towards rulemaking, including its work on crypto asset regulation and a proposed five-year innovation exemption. However, she emphasized that these initiatives should be complemented by using existing authority while Congress considers broader legislation.

The issue of developer protection was particularly important to Peirce. She argued that writing software should not automatically make developers liable when their tools are misused by others. Excessive enforcement risk could discourage developers from creating code in the US, she said, which would weaken the country's technology competition.