Joe is putting together a terrific team.
Preet Bharara, Gary Gensler top list of potential picks for SEC chair
By Tory Newmyer
Dec. 9, 2020 at 7:59 a.m. EST
with Brent D. Griffiths
Wall Street is bracing for the incoming Biden team to name the industry’s top cop. And so far, the list of candidates for the job of chairing the Securities and Exchange Commission has the industry justifiably worried.
Two at the top of the list — Preet Bharara, the former U.S. Attorney for the Southern District of New York, and Gary Gensler, the former Commodity Futures Trading Commission chief — have built reputations as no-nonsense enforcers against industry wrongdoing.
The Biden team has yet to make a decision. But eight informed sources representing both industry and its detractors agree on the contours of the field and the forces shaping the decision.
Several agree an announcement will be imminent once the president-elect names his choice for attorney general. And the incoming administration is keeping a brisk pace of appointments, naming two more Cabinet picks on Tuesday: Tom Vilsack for secretary of agriculture and Rep. Marcia L. Fudge (D-Ohio) to lead the Housing and Urban Development Department.
Beyond Bharara and Gensler, others in the mix for the SEC earn positive reviews from industry critics who want to see the commission take a much tougher line against Wall Street firms after four years of Trump-era deregulation. Among them: Commissioner Allison Lee, who is widely expected to be named acting chair when the current chief, Jay Clayton, steps down at the end of the year; former commissioner Kara Stein; Boston College law professor Renee Jones; and Barbara Roper, director of investor protection at the Consumer Federation of America.
more:
http://www.washingtonpost.com/politics/2020/12/09/finance-202-preet-bharara-gary-gensler-top-list-potential-picks-sec-chair/?utm_campaign=wp_the_finance_202&utm_medium=email&utm_source=newsletter&wpisrc=nl_finance202
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