Two Quarters Under a New SEC

At Gary Gensler’s nomination hearing to become Chairman of the SEC in March 2021, the former Goldman Sachs banker, chair of the Commodity Futures Trading Commission (CFTC) and M.I.T. professor made clear that he saw his potential new role as increasing transparency and reducing risk in the markets. Gensler described the SEC as having been created “to protect investors; to maintain fair, orderly and efficient markets; and to facilitate capital formation,” and if he were to be confirmed as SEC chair, he would strengthen accountability so people could invest with confidence, promote efficiency and competition, make sure that companies could raise needed capital, and above all make sure that “our markets serve the needs of working families.”