Securities and Exchange Commission (SEC) Chairman Gary Gensler announced Thursday that he will step down when President-elect Donald Trump takes office on January 20th.
in a press release Posted According to the SEC, Mr. Gensler praised SEC employees as dedicated public servants and said he was proud to lead such a prestigious government agency. Gensler also said he is grateful to President Joe Biden for entrusting him with the role.
“The Securities and Exchange Commission is a great institution. The staff and the Commission have a deep sense of mission to protect investors, promote capital formation, and make markets work for both investors and issuers. Our staff is made up of true public servants who serve on behalf of and alongside ordinary Americans to ensure that our nation's capital markets remain the best in the world. was the honor of a lifetime,” Gensler said in a statement.
I will be retiring from my position on January 20, 2025. @SECGov chair.
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— Gary Gensler (@GaryGensler) November 21, 2024
Gensler became SEC chairman on April 17, 2021, following the GameStop trading frenzy. (Related: Exclusive: Memo warns of massive 'unconstitutional' database of Americans' information pushed by Biden administration)
Like many Biden administration officials, Gensler's resignation was widely expected ahead of the upcoming transition. On Wednesday, Federal Communications Commission (FCC) Chair Jessica Rosenworcel also announced plans to resign on January 20 (Reuters) reported. President Trump has appointed FCC Commissioner Brendan Carr as the next chairman of the commission. Announcing this decision, President Trump praised Carr's contributions and confirmed his appointment as permanent chair.
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