The Securities and Exchange Commission has signalled his willingness to reform the disclosure requirements for US securities offerings with the hire of a senior lawyer from Cleary, Gottlieb, Steen & Hamilton.

The SEC has hired Alan Beller, one of Cleary's most experienced international securities lawyers, as director of corporate finance division. The division is responsible for regulating both equity and debt offerings on the US market. It is also responsible for the disclosure requirements for US listed companies that can be triggered by mergers, acquisitions, disposals and trading updates.