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Biden To Tap Former Derivatives Regulator To Head SEC: Reports By AFP News
on January 13 2021 9:37 AM
President-elect Joe Biden is expected to nominate a former Obama administration derivatives regulator with a reputation for toughness as the country s top stock market watchdog, US media reported Tuesday.
Biden will tap Gary Gensler to lead the Securities and Exchange Commission (SEC), according to news outlets, a position where he could roll back the efforts of outgoing president Donald Trump s administration to ease regulations imposed in the wake of the 2008 global financial crisis.
Progressives who favor tighter control over financial markets are likely to cheer the pick given Gensler s reputation for standing up to Wall Street powers.