Mark Uyeda, acting chair of the U.S. Securities and Exchange Commission, also said the agency was developing possible changes to a recent rule that requires mutual and exchange-traded funds to report portfolio holdings on a monthly rather that quarterly basis. His address to an investment industry conference in San Diego laid out plans for a sharp divergence from the way President Joe Biden's administration oversaw Wall Street. Uyeda said the SEC "needs to prioritize effective and cost-efficient regulations that respect the limits of our statutory authority," according to a copy of his prepared remarks.