increase in investor demand for company disclosures on things like climate-related risks, board and leadership diversity and political donations. Most recently, it issued a risk alert about the “lack of standardized and precise” definitions of E.S.G. products and services, which could lead to confusion among investors and inconsistent reporting by companies.

  • At his Senate confirmation hearing, Mr. Gensler appeared inclined toward more expansive disclosures, noting that “it’s the investor community that gets to decide” what is material.

Blank-check companies: Special purpose acquisition companies, or SPACs, have been proliferating, raising many regulatory concerns. These include “risks from fees, conflicts, and sponsor compensation, from celebrity sponsorship and the potential for retail participation drawn by baseless hype, and the sheer amount of capital pouring into the SPACs,” said John Coates, the acting director of the S.E.C.’s corporate finance division, in a statement.

  • Given Mr. Gensler’s strong enforcement credentials, many predict more scrutiny of SPACs in the months ahead. This could take precedence over the other recent market frenzy, meme stocks, but regulatory action on the gamification of trading, payment for order flow and other factors in the mania around GameStop and others may not be far behind.

Bringing cryptocurrency into the mainstream: Mr. Gensler was confirmed on the day that the crypto exchange Coinbase went public, signaling a new era of legitimacy at a time when crypto rules are in flux. Blockchain executives and their growing lobby told DealBook that they welcome working with Mr. Gensler, who is more versed in crypto technology than most other policymakers. “He gets what’s going on,” Hester Peirce, an S.E.C. commissioner and vocal crypto champion, said of Mr. Gensler.

  • Clarity on when a digital asset qualifies as a commodity or a security tops Coinbase’s wish list, according to its chief counsel, Paul Grewal: He’s “hopeful” about Mr. Gensler’s tenure, noting that he will be well-informed and engaged on crypto issues, “even if we won’t always agree.”


  • CVC Capital Partners has reportedly delayed submitting a final takeover bid for Toshiba following the resignation of the Japanese conglomerate’s C.E.O. (Nikkei)

  • Penske Media, the publisher of Rolling Stone, has reportedly agreed to buy a 50 percent stake in the South by Southwest festival to keep the tech, music, and film event afloat. (WSJ)

  • WeWork may be trying to go public through a SPAC instead of an I.P.O. this time, but concerns about its rosy projections for growth and profitability remain. (WSJ)

Politics and policy

  • All the ways British officials are trying to defend London’s status as a major financial hub after Brexit. (NYT)

  • Super PACs are starting to play an outsize role in the race for New York City mayor. (NYT)

  • President Donald Trump may be out of office, but the One America News Network has bet its business on essentially pretending he never left. (NYT)


  • Two men were killed in an accident involving a Tesla that was apparently operating in Autopilot mode. (NYT)

  • Clubhouse has raised new funds at a $4 billion valuation, but there are signs that the audio chat app’s popularity is waning. (CNBC)

Best of the rest

  • What research says about how to make hybrid work succeed. (Reset Work)

  • Speaking of the future of work: HSBC’s senior leaders have scrapped their own executive floors and now “hot desk” like everyone else. (FT)

  • “The New York Power Lunch Is Back, With New Rules” (WSJ)

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