By now, the SEC has been busy filling out its new governance structures.
While the agency is working through its “blueprint” for the upcoming 2019-2020 financial year, it is also reviewing and implementing the reforms that will govern its board for the next four years.
The new structures are expected to be finalized by the end of April, and could be finalized before the end or mid-summer of next year.
One of the big questions that will come up in the process is how much the SEC will have to pay for each change.
SEC chairman Jay Clayton said in March that the new structure will cost the agency about $7 billion over four years, with a few billion more to be paid over the next five years.
There are three major changes that have been proposed by the agency.
The first is the creation of a new board of directors to manage the SEC.
Under current rules, the board of commissioners serves as a rubber stamp to the executive branch and is responsible for overseeing the operations of the SEC, as well as the overall oversight of the agency and its financial and regulatory policies.
The second is the appointment of a permanent independent director, who will be tasked with overseeing the agency’s budget and financial management, as the SEC does with the U.S. Postal Service and Medicare.
The third is the establishment of a two-person committee to review the agency in the next few months.
Both of these changes would be required by the rules, and it is unclear if either of them will be approved by the full board.
Clayton said at the time that the two-member board of trustees would be appointed in 2018, and that the committee would be formed “as soon as possible” in 2019.
The SEC’s board is also expected to review and make recommendations to the SEC and other regulators on the new governance model.
While some of the key changes that the SEC is considering are likely to be incorporated into the agency structure, it will still be up to the full Board of Trustees to make decisions.
The board of Trustee is currently composed of eight members, and has four members appointed by the commissioner.
As of now, there are two people appointed by Clayton, two by the SEC commissioner, and one by the head of the U-M football program.
The two other members appointed to the board are former SEC commissioners John Schmitt and William G. Pomerantz, and former SEC commissioner Mike Locksley.
It is expected that the chairman and two other full-time SEC commissioners will be appointed by 2021, with the SEC chairman being appointed to serve until 2024.
As for the two full-timers appointed by Locks, they are former commissioner John Paulson and former chief financial officer David J. Miller.
There will also be a two member, three-member executive committee, and a two members, three members committee that will make recommendations on the SECs governance model and policies.
SEC Chairman Jay Clayton says that the changes being considered will be incorporated by the board into its governance structure by 2021.
However, Clayton also said that it is possible that the board could have a “one-size-fits-all” structure, with two members appointed at the same time by the chair, and others appointed by other members of the board.
As part of the new board, the full commission will also have the power to request and approve major changes in the way the SEC deals with its finances.
SEC chair Jay Clayton.
SEC Commissioner Mary Jo White.
SEC Chief Financial Officer David J, Miller.
SEC head John Paulsen.
SEC president and CEO Mary Jo Monsey.
SEC chief legal officer and chief legal affairs officer John W. Welch.
SEC general counsel Richard Reeves.
SEC commissioner Mary Jo Mulvey.
SEC deputy general counsel and deputy commissioner Richard S. McCaw.
SEC associate general counsel Mark A. Zuckerman.
SEC regional director for finance and general counsel David L. Fink.
SEC vice president for capital markets and general partner and chief investment officer John D. Goguen.
SEC executive director and chief information officer Tom Haney.
SEC senior vice president and director of corporate finance David D. Lefkowitz.
SEC board of governors.
SEC director of regulatory affairs David M. Wolk.
SEC attorney general and associate director of the enforcement division.
SEC assistant general counsel in charge of compliance with regulatory and public policy responsibilities, including the enforcement of the Securities Act of 1933.
SEC legal advisor and deputy general attorney, Michael A. Murphy.
SEC regulatory and legal affairs counsel, David Lohr.
SEC compliance officer, Scott F. McDaniel.
SEC legislative counsel, Scott P. Goss.
SEC law clerk, Michael S. Tisch.
SEC staff counsel, James C. Schindler.
SEC counsel for the Division of Enforcement, David Dampier.
SEC adviser to the Office of the Solicitor General, Richard C. Tuchman.
SEC consultant, Mark E. Pappas.
SEC special counsel and senior partner, David