Document Type

Lessons Learned

JEL Codes

G01, G28


Erik Sirri served as director of the Division of Trading and Markets at the US Securities and Exchange Commission (SEC) from 2006 to 2009. In his post, he was responsible for matters relating to the regulation of stock and option exchanges, national securities associations, brokers-dealers, clearing agencies, transfer agents, and credit rating agencies. Before joining the SEC in 1996, he was an assistant professor of finance at the Harvard Business School from 1989 to 1995. Sirri served as the SEC’s chief economist until 1999, before returning to academia. He is currently a professor of finance at Babson College. His research interests include the interaction of securities law and finance, securities market structure, investment management, and capital markets. This Lesson Learned is based on an interview with Sirri held in May 2021.

Date Revised