The Securities and Trade Fee is “scaring folks off from coming in and having a dialog with us,” SEC Commissioner Hester Peirce mentioned Tuesday.

In remarks on the Practising Legislation Institute’s SEC Speaks convention in Washington, Peirce, a Republican, mentioned that “productive interactions with the SEC are fewer and additional between than they have been previously.”

When people and entities “come to the SEC with their novel concepts, their suggestions, their considerations, their objections, their questions on implementation of a brand new rule or software of an outdated one to new circumstances, too usually now they’re met with … effectively, crickets,” Peirce acknowledged.

Peirce relayed that “Neither employees experience nor points ripe for evaluation are missing, so what has modified?”

Partially, “the employees, run ragged by a punishing rulewriting agenda, doesn’t have the bandwidth to consider laborious, novel authorized questions,” she asserted. “The distant work norm additionally could play a job because it reduces alternatives for spontaneous employees collaboration to work via powerful questions.”

That being mentioned, “the basis of the issue, although, is that the Fee discourages the employees from providing way more than silence, shrugs, sighs, and slow-walking. The tradition on the high of the SEC has modified, which in flip has modified the best way the company interacts with the general public,” she defined.