This is a Kato's special podcast. I'm Caleb Brown. Financial regulatory

reform may be on the table in the future administration of President-elect

Donald J. Trump.

Thea Brooke Knight is Associate Director for Financial

Regulation Studies at the Cato Institute.

She says it may be an opportunity to do some serious policy

reform.

There are several agencies that deal with financial markets

that have positions that need to be filled by the future President Trump.

And from what I understand, the pool of people is kind of thin right now.

So what's going to happen?

Well, one thing is I'd like to look at a more expansive

definition of the pool, because one of the problems that I see specifically with the SEC but I think it applies more broadly to other agencies is that the candidates for these positions tend to be beltway insiders.

They tend to be people who went to certain law schools or certain universities.

And they tend to have a very specific sort of policy focused background.

And I think that we're missing out on the viewpoint of the industry itself.

And I think also, especially with the SEC,

a lot of the focus is, it needs to be New York focused

in some ways, because that is really our financial epicenter, but the financial services

industry is much bigger than New York.

And as the SEC's reach has expanded beyond just the public companies and we have a lot more companies

that aren't going public that are raising capital through private offerings

...