Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), announced he will depart from his role when Donald Trump takes office as President on January 20, 2025.
The timing of Gensler's exit aligns precisely with Trump's inauguration ceremony, set for 12pm that day. Gensler has led the SEC since April 2021, marking a tenure characterized by aggressive regulatory oversight and frequent clashes with both traditional financial institutions and the cryptocurrency industry.
During his time as the SEC's 33rd Chair, Gensler took office shortly after the GameStop trading frenzy that rattled Wall Street. His leadership approach focused heavily on investor protection and market regulation.
In his farewell statement, Gensler praised the SEC staff as "deeply mission-driven" public servants committed to protecting investors while supporting capital formation. He emphasized the agency's role in maintaining the United States' position as a global leader in capital markets.
Gensler acknowledged his fellow Commissioners, including Allison Herren Lee, Elad Roisman, Hester Peirce, Caroline Crenshaw, Mark Uyeda, and Jaime Lizárraga, while expressing gratitude to President Biden for the appointment opportunity.
The announcement marks the end of a regulatory era that saw increased scrutiny of financial markets, with particular attention paid to cryptocurrency regulation and retail investor protection. The transition comes as markets prepare for potential policy shifts under the incoming Trump administration.