Securities and Exchange Commission Chair Gary Gensler will resign on Jan. 20, the agency announced Thursday, paving the way for President-elect Donald Trump to select a replacement immediately.
Gensler took over the SEC in 2021, and under his leadership the commission has taken an ambitious but controversial approach to several regulatory issues, including cryptocurrencies.
Trump has not announced his pick to lead the SEC, but the expectation is that the next chair will be friendlier to Wall Street and crypto.
SEC commissioners serve five-year terms, so Gensler could have in theory stayed on until at least 2026.
Under Gensler, the SEC pushed to require more disclosures from publicly traded companies and financial advisors for investors.
Persons:
Gary Gensler, Donald Trump, Gensler, Trump, ” Gensler, Gensler’s
Organizations:
Securities, Exchange, SEC, cryptocurrencies, Gensler’s SEC