12.20.21

Republican SEC Commissioner Roisman to Leave Agency

by: Dave Michaels

Republican SEC Commissioner Elad Roisman plans to leave the market regulator by the end of January, giving Democrats a bigger majority at an agency pursuing an ambitious and sometimes politically divisive policy agenda. Roisman joined the five-member SEC as a Republican commissioner in September 2018, having served as chief counsel for Republicans on the Senate Banking Committee before that. He briefly served as the SEC’s acting chairman at the end of the Trump administration. With Roisman’s departure, the SEC will have three Democrats, including Chair Gary Gensler, and one Republican member. The move isn’t expected to change Gensler’s ability to advance his policy priorities, since Democrats already had the majority. Roisman increasingly opposed Gensler’s policy moves, including several recent measures proposing changes to money market mutual funds and derivatives that are used by hedge funds and some other investors.

Read the full article on Wall Street Journal