Gary Gensler has a full agenda as he gets set to take over the SEC
Bob Pisani, 14 April 2021
(The Senate is expected to confirm Gary Gensler as the new chairman of the Securities and Exchange Commission on Wednesday, and crypto assets — including bitcoin — are likely high on his agenda.
With Democrats in control of all three major branches of government, and the SEC commissioners now with a 3-2 Democratic majority, Gensler is likely to face calls from progressives to act on several fronts, including ESG, the Gamestop fallout, the Archegos fiasco, payment for order flow, fiduciary obligations, and especially regulations around securities in the crypto space, including a bitcoin ETF.
A Senate vote on Gensler’s nomination is scheduled for 11:45 a.m. ET.
What’s likely on the top of the list?
Environmental, Social and Governance
President Biden has pledged swift action to tackle what he calls a “climate emergency.” Acting Commissioner Allison Herren Lee has already indicated that the commission will focus on greater transparency and how corporate actions may be affecting the climate.
Climate change, Herren Lee has argued, fits squarely in the SEC’s mandate of providing data for investor protection.
