2024-11-25
Democratic SEC Commissioner Jaime Lizárraga has announced his plan
to step down on January 17, 2025. This decision follows the recent resignation
of SEC Chair Gary Gensler. Lizárraga cited personal reasons for his departure,
specifically his wife's serious illness.
Gary Gensler, who has served as the Chair of the U.S. Securities and
Exchange Commission (SEC) since April 2021, announced his resignation effective
January 20, 2025, coinciding with President-elect Donald Trump's inauguration.
During his tenure, Gensler implemented numerous regulations aimed at
enhancing market fairness and investor protection, including actions against
cryptocurrency operators and violators.
His leadership saw over 2,700 enforcement actions, resulting in
large amount of financial penalties.
Commissioner Jaime Lizárraga, who joined the SEC in July 2022,
announced his intention to step down effective January 17, 2025.
His decision is primarily motivated by personal reasons, as his wife
is battling a serious illness. Lizárraga expressed pride in the Commission's
accomplishments during his tenure and emphasized his commitment to the SEC's
mission until his departure.
With both Lizárraga and Gensler stepping down, the SEC will see a
significant shift in its leadership, leaving only one Democrat, Caroline
Crenshaw, on the commission. This change is expected to influence the SEC's
regulatory direction, especially concerning cryptocurrency policies.
These departures mark a significant transition for the SEC, with
both key figures stepping down as the new administration takes office.
