President Joe Biden has selected Commissioner Allison Herren Lee as acting Chair of the Securities and Exchange Commission (SEC). Commissioner Lee will lead the SEC until Gary Gensler is approved by the US Senate.
Upon being selected, Acting Chair Lee issued the following statement:
“It’s an honor to continue my service on the Commission in this new role. I have tremendous respect for my colleagues on the Commission and the exceptional staff across the agency, and look forward to working closely with them. Together we will continue the agency’s work of protecting investors and ensuring market integrity. During my time as Commissioner, I have focused on climate and sustainability, and those issues will continue to be a priority for me.”
Among other positions, Lee served on the staff of the SEC for over a decade in various roles, including as counsel to former Commissioner Kara Stein and as Senior Counsel in the Division of Enforcement’s Complex Financial Instruments Unit.
Current Commissioners Hester M. Peirce, Elad L. Roisman and Caroline A. Crenshaw, joined in welcoming Lee to the leadership role:
“Sincere congratulations to Commissioner Lee, who will serve as Acting Chair of the Securities and Exchange Commission. We look forward to continuing our work together to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”