This discussion group examines the evolution of the SEC as a market regulator and how these changes fit within the agency's tripartite mission: ensuring investor protection, creating fair and orderly markets, and enhancing market efficiency. In the name of making the markets more attractive to public companies, the SEC has altered key long-standing rules or policies, such as its approach to shareholder proposals, mandatory shareholder arbitration, and corporate disclosures. This discussion group explores questions, such as: Are the agency's new regulatory priorities a reflection of its need to evolve alongside market changes? Do these changes conflict with or support the agency's mission? Who do these changes benefit: the markets, investors, public companies, or the agency?