SEC Chair Gary Gensler Unlikely To Finish Term as President-Elect Trump Looking for Replacement: Report
U.S. Securities and Exchange Commission Chair Gary Gensler will reportedly most likely resign before his term is over.
Fox Business reporter Eleanor Terret says that President-Elect Donald Trump’s pick for a new SEC Chair is still unknown, but that Gensler will probably step down before the January inauguration rather than allow his term run til 2026.
While it’s anyone’s guess when Gensler’s resignation will happen, Terret says that “chatter in DC circles” is suggesting that he’ll issue a statement sometime after Thanksgiving announcing his intention to leave his post in early January.
According to Terret, possible picks for Gensler’s replacement are Robinhood’s chief legal officer Dan Gallagher, lawyer Bob Stebbins, former SEC Commissioner Paul Atkins, former CFTC Chair Heath Tarbert, former Acting Comptroller of the Currency Brian Brooks and former SEC Investment Management Director Norm Champ.
In a recent Ask Me Anything (AMA) session on the social media platform X, former head of the SEC’s Office of Internet Enforcement John Reed Stark said that like most of the regulators’ Chairs he has worked with, Gensler will likely leave his post following Trump’s victory in the presidential election.
“Most of the time, they just resigned because they know that a new chair is going to be appointed.”
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