U.S. Senate Banking Committee approves Gary Gensler nomination as SEC chair

The U.S. Senate Banking Committee voted to nominate financier Gary Gensler to the post of chair of the Securities and Exchange Commission (SEC).

The nomination of Gensler was supported by 14 members of the relevant committee, with 10 voting against. The Senate will make the final decision. A vote date has not yet been set.

HAPPENING NOW → The Committee is holding a markup to consider the nominations of Rohit Chopra to lead the @CFPB and Gary Gensler to lead the SEC.

Tune in here ↓https://t.co/OtfvO73KrZ

— Senate Banking GOP (@BankingGOP) March 10, 2021

The committee chair Sherrod Brown said that Gensler’s leadership is crucial for ensuring the SEC’s work meets the growing needs of investors.

“Gensler’s work as head of the [simple_tooltip content=’Комиссия по торговле товарными фьючерсами США’]CFTC [/simple_tooltip] and as a Treasury official gave him the experience and knowledge needed to become an effective chair of the Securities and Exchange Commission,” the statement said.

As reported in December 2020, the post of SEC chair left Jay Clayton. Under his leadership the commission was not friendly to the crypto industry, refused to register new products and pursued lawsuits with companies.

From December 25, 2020, acting chairman of the regulator Elad Roisman served.

On January 18, 2021, the elected US president Joe Biden nominated Gensler to head the SEC. On February 3, his nomination was sent to the Senate for confirmation.

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