Potential Candidates for SEC Chairmanship Under a Trump Presidency

Dan Gallagher, the chief legal officer of Robinhood, is the leading candidate for the position of SEC chair if Donald Trump wins the U.S. presidential election, according to sources cited by Politico.

Other contenders include former CFTC chairman Chris Giancarlo, SEC commissioner Hester Peirce, and the agency’s former chief counsel Robert Stebbins.

“I am honored to be considered among those who could become the next chair of the regulator,” Gallagher commented to The Block.

From 2011 to 2015, the top executive served as an SEC commissioner. Prior to that, he dealt with issues related to the agency’s enforcement and trading divisions.

In May, Robinhood’s crypto division received a warning from the SEC about a potential lawsuit. At that time, Gallagher expressed disappointment with the Commission’s stance, which took this step despite the online broker’s years-long efforts to achieve regulatory clarity, including compliance with business registration requirements.

In July, Trump promised to dismiss the regulator’s head, Gary Gensler.

In September, it was revealed that the House of Representatives had begun an investigation into the SEC’s use of politically motivated hiring practices.

In June 2023, congressmen introduced a bill for Gensler’s removal. Two months after Grayscale’s court victory against the agency, a similar proposal was made again.

In October, it was announced that SEC enforcement director Gurbir Grewal would be stepping down. The community referred to the official as “the main instigator of Gensler’s aggressive attack on cryptocurrencies.”