US Securities and Exchange Commission Chairman Gary Gensler will reportedly most likely resign before his term is over.
Fox Business reporter Eleanor Terret says President-elect Donald Trump’s choice for a new SEC chairman is still unknown, but Gensler will likely step down before the inauguration in January rather than let his term run until 2026.
While it’s anyone’s guess when Gensler’s resignation will occur, Terret says “chatter in DC circles” suggests he will make a statement sometime after Thanksgiving announcing his intention to leave his post in early January.
According to Terret, possible choices for Gensler’s replacement include Robinhood’s chief legal officer Dan Gallagher, attorney Bob Stebbins, former SEC Commissioner Paul Atkins, former CFTC Chairman Heath Tarbert, former acting Comptroller of Currency Brian Brooks and former SEC Investment Management Director Norm Champ.
In a recent Ask Me Anything (AMA) session on the social media platform will leave his post after Trump’s victory in the presidential election.
“Most of the time they just resigned because they knew there would be a new chairman.”
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