SEC chair Gary Gensler to step down from post in January

Once Donald Trump takes office

Securities and Exchange Commission chair Gary Gensler will be stepping down from his post once Donald Trump returns to the White House on 20 January, bringing an end to a tenure of nearly four years at the US financial regulator.

Gensler, who took over as SEC chair on 17 April 2021, will step down before completing his five-year term, originally set to run until 2026. "I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favour," he said in a statement on Thursday (22 November). SEC adopts new clearing rules in $26bn US Treasury market overhaul During his time at the watchdog, Gensler pushed through a series of market reforms, including new clearing rules in the $28trn US Treasury markets and shortening the settlement...