Trump taps Republican Uyeda as acting SEC chair, White House says

Source: Reuters

January 20, 2025 4:24 PM EST Updated 11 hours ago


Jan 20 (Reuters) - Newly sworn-in President Donald Trump has tapped Mark Uyeda, a Republican member of the U.S. Securities and Exchange Commission, to be acting chair of the agency, the White House said on Monday.

Uyeda takes over from Gary Gensler, former President Joe Biden's hard-charging SEC chair whose ambitious agenda led him to clash with Wall Street and the crypto industry.

Trump has said he will nominate former SEC Commissioner Paul Atkins to run the agency on a permanent basis. Atkins, for whom both Uyeda and current SEC Commissioner Hester Peirce both previously worked at the agency, is expected to make a sharp turn away from how the Biden administration oversaw capital markets.

Gensler, who stepped down on Monday, inked dozens of rules aimed at boosting transparency, reducing risks, and stamping out conflicts of interest on Wall Street. He also sued multiple crypto firms he alleged were flouting SEC rules. Sources said this month that Peirce and Uyeda are expected to kick-start a cryptocurrency policy overhaul as early as this week, Reuters reported.

Read more: https://www.reuters.com/markets/us/trump-taps-republican-uyeda-acting-sec-chair-white-house-says-2025-01-20/