U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler today confirmed his intention to continue his role as the agency's regulator if President Joe Biden is re-elected for a second term.
Gensler, who was previously a long-time partner at Goldman Sachs, is known as one of the most aggressive regulators of the post-financial crisis era. His tenure at the SEC was filled with the implementation of new rules and enforcement actions that put pressure on the cryptocurrency world and Wall Street firms.
During an interview at the SEC's headquarters in Washington, Gensler expressed excitement about his position, saying, “I love this job.” “When then-Secretary Robert Rubin offered me the opportunity to serve, I thought, 'Where do we apply?'” Gensler said, recalling his time at the Treasury Department in the 1990s.
Gensler emphasized the importance of the SEC's work, stating that the institution oversees the capital markets worth $110 trillion. Praising the talented staff and the interesting topics they cover, Gensler said he believes they can significantly impact the lives of ordinary people.
Under Gensler's leadership, the SEC has implemented sweeping reforms, including speeding up U.S. stock trading and bolstering the $26 trillion Treasury market. If Gensler remains at the helm of the SEC, his term, which runs through 2026, would give him additional time to impose more rules for investors, financial intermediaries and corporate America.
*This is not investment advice.