SEC Announces Departure of David Saltiel
The Securities and Exchange Commission (SEC) has announced the impending departure of David Saltiel, the Acting Director of the Division of Trading and Markets, effective July 4, 2025. Saltiel, who has been a pivotal figure in the agency since December 2024 and previously held the same position for several months in 2021, has consistently contributed to enhancing market structure and investor protection.
Chairman Paul S. Atkins expressed his gratitude to Saltiel for his invaluable counsel, highlighting his commitment to ethical standards and data-driven policymaking. Such traits are crucial in today’s rapidly evolving financial markets, particularly as the integration of advanced technologies like artificial intelligence transforms traditional practices.
Saltiel’s tenure has not been without significant achievements; he has overseen important policy advancements in equity, fixed-income, and derivatives markets. His work on enhancing transparency and disclosure, exemplified through amendments to Rule 605, has established a stronger safeguard against market manipulation—a pressing concern especially in the wake of recent market volatility and the rise of decentralized finance (DeFi) platforms.
In a time where fair and orderly markets are more challenged than ever, the SEC’s loss of Saltiel will be felt deeply. His reputation as a technical expert is well-founded, and his ability to foster competition among trading venues is critical for sustaining healthy markets. As Jamie Selway, the new Director of the Division of Trading and Markets, noted, Saltiel leaves behind a legacy enriching the division’s culture and operational capabilities.
Historically, the SEC has faced scrutiny for its ability to keep pace with technological advancements in the financial sector. Saltiel’s proactive approach in integrating empirical analysis into regulatory processes addresses these concerns directly. By prioritizing a clear and informed decision-making framework, he has positioned the SEC to engage thoughtfully with emerging market realities.
Saltiel’s career showcases a blend of both public and private sector experience, with a foundational role in the Municipal Securities Rulemaking Board as its first Chief Economist. His academic credentials, which include an undergraduate degree from Williams College and a master’s degree from St. Antony’s College at the University of Oxford, underline a commitment to rigorous analysis and the pursuit of knowledge.
Looking forward, as the SEC prepares for Saltiel’s departure, it will be essential for incoming leadership to continue his pursuit of market integrity and transparency in the face of continuous innovation and global economic shifts. The financial landscape is in a constant state of flux, requiring not just continuity but an evolution in regulatory practices to ensure that they remain relevant and effective.
As this transition unfolds, the agency must retain its focus on guiding the market towards stability, protecting investors, and fostering an environment where innovation can thrive safely and sustainably.
Published on June 18, 2025.