- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Ian Sherr2024-11-21T20:09:00
Securities and Exchange Commission (SEC) Chair Gary Gensler said will step down from his position as the top U.S. regulator of Wall Street when Donald Trump is sworn in as president on Jan. 20, ending weeks of speculation about his future.
In a statement Thursday, Gensler said he would step down at noon on Jan. 20, 2025. Gensler’s move will close a tenure that began more than three years ago in the aftermath of the meme stock market battle between retail investors and hedge funds around the share price of retailer GameStop.
Gensler had presided over a combative period for the agency, including high-profile efforts to reform company stock buybacks and fund fee disclosures, both of which courts ultimately overturned. The SEC also lost a legal battle around cryptocurrency trading, leading the agency to approve spot bitcoin ETFs earlier this year.
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President-elect Donald Trump appeared to strengthen his ties to the crypto industry when he nominated a popular crypto advocate, Patomak Global Partners founder Paul Atkins, to be the next chairman of the Securities and Exchange Commission.
Change is likely coming to the Securities and Exchange Commission’s enforcement priorities with the pending handover of the White House to Republican President-elect Donald Trump. Adjust your compliance priorities accordingly.
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When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
