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Congress Expands SEC Powers Just In Time for New Administration

By Robert J. Anello and Richard F. Albert
March 01, 2021

Wall Street has greeted Gary Gensler's nomination as Chair of the SEC with some trepidation, perhaps with good reason. Congress, by contrast, may have presented him with a powerful signing bonus.

During Gensler's tenure at the Commodity Futures Trading Commission (CFTC), he transformed the agency into one of the federal government's enforcement powerhouses. On the other hand, however, Gensler's credentials — including two decades at Goldman Sachs, and a recent stint as a professor at MIT — suggest that he will be more than just a tough cop. He also brings deep experience in the financial markets and serious engagement with emerging issues such as cryptocurrency regulation.

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