What are the biggest issues facing the U.S. Securities and Exchange Commission? And how is the agency addressing rapid technological advances? William Donaldson, who served as chairman of the SEC from 2003-2005, answered these questions and more last week at the annual Securities Regulation Conference at Columbia Law School.

Not too long after industry experts took their seats for lunch, Donaldson and Columbia law professor John Coffee Jr., an expert in this field in his own right, took the stage for a Q&A about the SEC. Coffee began by asking Donaldson what are the biggest problems facing the SEC today.