1.12.21
Gary Gensler, former head of the Commodities Futures Trading Commission (CFTC), is expected to be nominated by President-elect Biden to lead the Securities and Exchange Commission (SEC). His nomination will be welcomed news by Democrats that lauded his accomplishments during his 2009 – 2014 tenure at CFTC where he created a “regulatory framework for derivatives, a multi-trillion dollar market that had largely been free from federal oversight.” Describing some observers’ expectations for the policy stance of the new administration, the report notes that “progressive groups are hoping the SEC under Mr. Biden will move swiftly to undo policy changes implemented by recently departed Chairman Jay Clayton.”