Securities and Exchange Commission (SEC) Chair Gary Gensler announced Thursday that he will step down on January 20, 2025, the day President-elect Donald Trump is inaugurated. Gensler’s resignation, three years before the end of his term, marks the conclusion of his tenure under the Biden administration.
Gensler, appointed in 2021, highlighted the SEC’s achievements in his resignation statement, emphasizing the agency’s role in protecting investors and maintaining market integrity. He expressed gratitude to President Biden, SEC staff, fellow commissioners, and Congress for their support during his leadership.
The SEC is expected to be temporarily led by an acting chair, likely Republican commissioners Hester Peirce or Mark Uyeda. Both are viewed as more favorable to Wall Street and the cryptocurrency industry compared to Gensler. Trump’s eventual appointee is anticipated to pursue policies more aligned with financial deregulation and innovation.
During Gensler’s term, the SEC pursued high-profile investigations, including a probe into Elon Musk’s acquisition of X (formerly Twitter) in 2022. The agency is seeking sanctions against Musk after he failed to comply with a court-ordered testimony in the ongoing case.
Gensler’s departure signals a potential shift in the SEC’s regulatory approach as the new administration assumes office. Observers expect changes in enforcement priorities, particularly regarding cryptocurrency and capital markets, under a Trump-appointed successor.
