Bloomberg Tax
Oct. 8, 2021, 6:15 PM

SEC Chief to Wall Street: The Everything Crackdown Is Coming

Robert Schmidt
Robert Schmidt
Bloomberg News
Ben Bain
Ben Bain
Bloomberg News

The joke in Washington is that Gary Gensler could inspire his own version of the game, “Drink Every Time...”

The rules: Down a shot every time the U.S. Securities and Exchange Commission chief says he’s “asked the staff” to consider new regulations.

Gensler has “asked the staff” about oversight for crypto -- drink. For online brokers -- drink. For green investment funds -- drink. During two recent congressional hearings, Gensler used the phrase no fewer than 30 times, enough, one lobbyist quipped, to induce alcohol poisoning.

Gary Gensler
Photographer: Melissa Lyttle/Bloomberg

But for Wall Street, Gensler’s plans are hardly something to laugh about. ...

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