The Securities and Exchanges Commission (SEC), which supervises the US stock market, declared yesterday Dalia Blass as new Director of the Division of Investment Management, as indicated by an official statement.
Investmentnews.com addressed her new role in the SEC:
“She will take over the division that regulates investment advisers as well as investment companies, including mutual funds and exchange-traded funds, and variable insurance products. In the role, she will influence how the agency addresses investment advice standards and whether it proposes a uniform fiduciary rule”
Blass previously comes from the law firm Ropes & Gray, who represented the twins in their bid to create a publicly traded Bitcoin ETF.
Earlier this year, the SEC rejected the twin’s proposal for an ETF citing unregulated market complications. The Winklevoss twins hopes the SEC reexamines its refusal decision next year.