Gary Gensler to resign as SEC Chair on January 20

Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), plans to resign on January 20, 2024. His tenure has been marked by significant regulatory efforts, particularly in climate-risk disclosures and cryptocurrency enforcement, which faced strong opposition. Gensler's departure will leave the SEC under an acting chair, likely Mark Uyeda or Hester Peirce, both Republican commissioners. His policies, including stricter rules for corporate disclosures and changes to stock trade settlements, have faced legal challenges and mixed results. The incoming administration may shift the SEC's approach, particularly regarding cryptocurrency regulations. Gensler's aggressive stance on crypto has drawn criticism, with industry leaders calling for clearer guidelines.