The US Senate confirmed Elad Roisman as a member of the Securities and Exchange Commission during the session of 5 September 2018. This decision completes the five members required to complete all posts within the Commission.
Mr. Roisman, 37, was confirmed as commissioner after serving for several years as chief adviser to the Committee of the United States Senate on Banking, Housing and Urban Affairs.
Roisman, a Republican candidate was appointed to the Senate by the White House during the month of June. Subsequently, on 23 August 2018, the Senate Banking Committee approved the appointment and yesterday was confirmed to take the position effectively.
Roisman replaces Michael S. Piwowar, a Republican commissioner who resigned from the SEC at the start of the summer to hire a job at the Milken Institute as executive director of its center for the financial markets.
Comm. Elad Roisman: a breath of fresh air in the S.E.C?
Roisman has several important challenges ahead of him. 2 of the most critical decisions in which it will play an important role are those relating to a new set of rules and regulations that regulate the relationship between stockbrokers and their clients, as well as that of "renewing" the SEC's vision regarding cryptocurrencies and the possibility of approval of cryptocurrency ETFs.
Elad Roisman has been associated with having a pro-crypto position. Its role within the SEC should support the previous initiative of Comm Hester Peirce to open financial markets to the world of cryptocurrencies.
Speaking at an audition of the Senate Banking Committee in July, Roisman expressed his thinking about ICO and blockchain technologies (minute 2:00 pm). For the financial expert, the SEC should "address these new challenges in a fair and transparent manner", with the clear need to "review and review its rules, regulations and guidelines" in order to adapt to the new standards of a "evolved" market
"The US capital markets are the envy of the world, and the importance of the role of the SEC in this can not be overstated. Commissioners and SEC staff worked to preserve confidence as our markets grew and evolved.
To continue, the SEC must review and review its rules, regulations and guidelines to ensure they are still working as planned to accomplish the mission of the SEC.
This has more recently manifested itself in areas such as data protection and cybersecurity, as well as the emergence of new investments and technologies as initial offers of mo nete and blockchain.
It is essential that the SEC address these new challenges in a fair and transparent manner, provide clarity and certainty to markets and investors and enforce the laws and regulations that hold market participants accountable. "
A Nice Panorama For Crypto Traders
With the confirmation of Elad Roisman, the SEC would have five members, 3 of which see the cryptocurrency markets with favorable eyes.The commission configuration would be: Jay Clayton (anti), Robert Jackson, Jr. (pro), Hester Peirce (pro) and Elad Roisman (pro) The fifth, Mrs. Kara Stein can not serve last December According to Bloomberg, her successor could be the lady Allison Herren Lee, his former helper
With the approval of Mr. Roisman, a Bitcoin ETF is very possible, so far the markets have not had a significant reaction, however, for those who are enthusiastic about fundamental analysis this news could be of particular importance for future investments.