President-elect Joe Biden has drawn up a diverse list of candidates to be Wall Street’s next sheriff, some of them with tough enforcement records but insiders say his pick looks increasingly likely to be a pointy-headed white guy.
According to multiple insiders, Biden and his team have identified four candidates as the most likely to be the next chairman of the Securities and Exchange Commission: former Obama administration regulator Gary Gensler, NYU law professor Robert Jackson Jr., former US Attorney Preet Bharara, and former Federal Reserve vice chairman Roger Ferguson.
Nevertheless, there are increasing doubts about the latter two candidates taking on the job, Beltway sources said.
Crenshaw: SEC Under Biden Likely to Tighten Up ESG Disclosures Speaking at the Consumer Federation of America s Financial Services Conference, the commissioner also said more Reg BI data is needed to gauge its effectiveness, but a strong fiduciary standard was critical.
The Security and Exchange Commission s Caroline Crenshaw suggested today that under President-elect Joe Biden s administration, and a new SEC chair nominated by the administration, the SEC will likely reexamine its approach to ESG-related disclosures, particularly those around climate risk.
The comments came in the midst of a keynote discussion with Barbara Roper, the Consumer Federation of America’s director of investor protection, during the CFA’s annual Financial Services Conference, which was held virtually this week.