We know there will be new leadership at the SEC.\u00a0 President Biden has already nominated Gary Gensler as the new SEC Chair. Mr. Gensler, who served as chairman of the CFTC under Obama, was widely perceived as an aggressive CFTC chairman during the financial crisis. At that time, this aggressiveness eased progressives\u2019 concerns that President Obama was appointing a Wall Street executive (Gensler is an alumnus of Goldman Sachs) to head the CFTC. Now, opposition to Gensler is more likely to come from conservatives, who may regard him as an overzealous enforcer.<\/p>\n
Meanwhile, the Commission is being led by acting Chair Allison Herren Lee.\u00a0 Chair Lee is a long-time SEC enforcement attorney who also acted as counsel to Commissioner Kara Stein before assuming her position as a commissioner in mid-2019.\u00a0 She is regarded as pro-enforcement and will be an ally of Mr. Gensler should he be confirmed as Chairman.<\/p>\n
What will this new leadership mean for market participants?<\/p>\n
Read more here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" We know there will be new leadership at the SEC.\u00a0 President Biden has already nominated Gary Gensler as the new SEC Chair. Mr. Gensler, who served as chairman of the CFTC under Obama, was widely perceived as an aggressive CFTC chairman during the financial crisis. At that time, this aggressiveness eased progressives\u2019 concerns that President … Continue reading What to Expect from the SEC Under the Biden Administration<\/span>