SEC Chair Gary Gensler now hints at resigning in a new speech, which many have compared to a ‘farewell’ as he reviewed his time at the agency.
Securities and Exchange Commission Chairman Gary Gensler spoke this morning at the Practising Law Institute’s 56th annual conference on securities regulation.
“Before I close, I want to say something about the SEC and its staff.
It’s a remarkable agency.
The staff and Commission are deeply mission-driven, focused on protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.
The lawyers, accountants, economists, policy experts, and other staff generally could make more money working somewhere else.
They choose, though, to work on behalf of the public here at the SEC.
It’s been a great honor to serve with them, doing the people’s work, and ensuring that our capital markets remain the best in the world.
He later concluded with the following statement:
“Sam and Jane Gensler, my mom and dad, never worked in finance or even completed college.
When they invested their savings, our family benefited from the securities markets’ common-sense rules of the road.
The SEC’s effective administration of well-regulated securities markets promotes trust.
It’s what brings investors and issuers to the market like fans to a football game.
It’s what underpins the world’s largest capital markets.
It’s what has contributed to our nation’s great economic success these last 90 years.
I’ve been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance.”
Earlier this year, President Donald Trump vowed to fire Gary Gensler on day one.
Retail investors on social media have expressed a positive sentiment towards Gary Gensler’s resignation.
The SEC Chair has been criticized over the years for his incompetence and lack of enforcement regarding illegal short selling practices in the market.
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