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Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), is reportedly planning to step down before his term ends. According to Fox Business reporter Eleanor Terret, Gensler is expected to resign prior to the January inauguration of President-elect Donald Trump, despite his term running until 2026.
Terret shared that “chatter in DC circles” suggests Gensler may announce his intention to leave shortly after Thanksgiving. While the exact timing remains uncertain, she indicated he is likely to exit the role by early January.
A new SEC Chair has yet to be named, though several candidates are reportedly under consideration. Potential picks include Dan Gallagher, Robinhood’s Chief Legal Officer; Bob Stebbins, a seasoned lawyer; Paul Atkins, a former SEC Commissioner; Heath Tarbert, former Chair of the Commodity Futures Trading Commission (CFTC); Brian Brooks, former Acting Comptroller of the Currency; and Norm Champ, former Director of SEC Investment Management.
Leadership transitions at the SEC following a presidential election are common. In a recent AMA session on X, former SEC Office of Internet Enforcement chief John Reed Stark weighed in on the matter. He explained that SEC Chairs often resign after a new president is elected.
“Most of the time, they just resigned because they know that a new chair is going to be appointed,” Stark said.
Gensler’s tenure as SEC Chair has been marked by intense scrutiny of the cryptocurrency industry and efforts to tighten regulatory oversight. His potential departure raises questions about how these policies might shift under new leadership.