SEC Commissioner Elad Roisman has submitted his resignation to President Joe Biden indicating he will exit the Commission next month.
Commissioner Roisman issued the following statement:
“Today, I sent a letter to President Biden, informing him that I intend to resign my position by the end of January. Serving the American people as a Commissioner and an Acting Chairman of this agency has been the greatest privilege of my professional life. It has been the utmost honor to work alongside my extraordinary SEC colleagues, who care deeply about investors and our markets. Over the next several weeks, I remain committed to working with my fellow Commissioners and the SEC’s incredible staff to further our mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.”
Currently, the Commission is controlled by Democrat appointees. President Biden should announce a new nominee in the coming weeks to replace Roisman.
During the Biden administration, under the leadership of Chairman Gary Gensler, the SEC has shifted to a strong focus on investor protection issues as well as social policies while providing little support for access to capital.