- 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.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
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.
Dr. Mehmet Oz, President-elect Donald Trump’s pick to lead the Centers for Medicare and Medicaid Services, has a mandate from Trump to “take on the illness industrial complex” and to cut costs.
Business owners can stop preparing their 2025 anti-money laundering reports for the Treasury Department’s Financial Crimes Enforcement Network, according to a Texas court, which ruled the Corporate Transparency Act requirement unconstitutional.
Data brokers have been getting away with selling Americans’ personal and financial data without adequate protections, an illegal practice that a new rule proposed by the Consumer Financial Protection Bureau will intend to stop, CFPB Director Rohit Chopra said.
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
