Wall Street rails against costs of Chairman Gary Gensler’s regulatory agenda at SEC

WASHINGTON—Wall Street is trying to derail the chairman of the Securities and Exchange Commission Gary Genslerprogram by challenging the economic assumptions that underpin dozens of policy proposals.

Brokerage houses, hedge funds, private equity firms, mutual funds, high-frequency trading firms and public companies have argued in comment letters filed this year that the costs of many proposals would outweigh the benefits and that the SEC’s studies of the issues are flawed.