Gary Gensler announced he will resign as chairman of Securities and Exchange Commission (SEC) effective at 12:00 p.m. EST on Jan. 20, 2025 – the same time and day when President-elect Donald Trump will be inaugurated to start his second administration.
Gensler began his SEC tenure on April 17, 2021. In announcing his departure, Gensler thanked President Biden “for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favor.”
Gensler previously served as head of the Commodity Futures Trading Commission during the Obama administration and was the chief financial officer for Hillary Clinton’s 2016 presidential campaign. Earlier in his career, he was a partner and co-head of finance at Goldman Sach.
Gensler is the second regulator to announce his resignation this week ahead of the new Trump administration’s arrival. Earlier this week, Martin J. Gruenberg announced he would be leaving his position as chairman of the Federal Deposit Insurance Commission on Jan. 19, 2025. Last May, announced he would resign after an investigation determined the agency encouraged a workplace environment of sexual harassment, discrimination and bullying under his watch. However, he stated his departure would be tied to the confirmation of a successor, which never occurred.
0 Comments