On March 15, Allison Herren Lee announced she will step down as a Commissioner at the Securities and Exchange Commission (SEC). Her term is set to expire in June but will stay in her position as Commissioner until President Biden names a successor who will then need to be confirmed by the Senate. Lee, who has been a commissioner since 2019, served as Acting Chair of the agency last year. She played a key role in helping SEC Chair Gary Gensler draft climate-change disclosure rules, which the SEC is expected to propose on March 21. Her departure would leave two slots open on the agency’s five-member board, including one vacated last year by Elad Roisman.
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