Accounting Today reports that acting Securities and Exchange Commission (SEC) Chair Mark Uyeda anticipates a slowdown in the agency’s rule making after what he described as an “overly ambitious” regulatory agenda under former Chair Gary Gensler.

Speaking at the Wall Street Journal’s CFO Network Summit, Uyeda emphasized a more methodical approach to financial regulation, likening the SEC to a “super-sized freighter” rather than a speedboat. 

Since stepping into the interim role, Uyeda has already reshaped the SEC’s stance on several key issues. The agency has significantly scaled back enforcement actions against crypto firms, dropping or pausing at least 10 cases and dismantling controversial staff guidance on crypto accounting. Uyeda also initiated a task force to establish clearer policies for the industry. 

Regulatory rollbacks have extended beyond crypto, as the SEC abandoned its defense of climate-risk disclosure rules and eased compliance deadlines for hedge funds and banks regarding Treasury deadlines for hedge funds and banks regarding Treasury cleaning requirements. Additionally, the agency has altered polices on shareholder proposals and privacy rules within market monitoring systems. 

Amid these changes, the SEC is also contending with Trump administration efforts to reduce the federal workforce. Employees have been offered $50,000 buyouts to encourage resignations or retirements ahead of an April 4 deadline.