Mark T. Uyeda is the Acting Chair Throughout of the U.S. Securities and Exchange Commission. This post is based on his recent remarks. The views expressed in the post are those of Commissioner Uyeda, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.
I. Introduction
Thank you, Paul [Cellupica], for the thoughtful introduction and I appreciate the invitation to address the ICI’s 2025 Investment Management Conference. First, I’d like to congratulate Dorothy Donohue on her well-earned retirement. Dorothy has had an impressive career spanning both public and private service, with a deep knowledge of the fund industry and its legal framework. I have worked with her on many issues over the years. She will be missed, and I wish her well on her next chapter.
This year – 2025 – marks the start of a new presidential administration, which holds tremendous potential. It has been a privilege to serve these past couple of months as the Acting Chairman of the Securities and Exchange Commission.
This year also marks a personal milestone – my thirtieth year of legal practice, which started out as a first-year associate in the ’40 Act practice of a major law firm. The practice was led by Richard “Dick” Phillips, one of the legends of the securities bar and, equally important, a former member of the SEC staff. Dick served the Commission during the 1960s in several capacities, including assistant to the chairman, assistant general counsel, and staff director of the SEC Corporate Disclosure and Investment Company Studies.
During that time, I learned a few things. First, I could distinguish between an open-end and a closed-end fund. And second, I learned to have a lot of respect for the SEC staff. READ MORE »
