Hester Peirce is now leaving the SEC, and retail investors are celebrating the departure amidst years of failures from the agency.
Peirce has been both revered for her involvement in the crypto space but scrutinized for protecting major Wall Street hedge funds and market makers over Main Street.
Peirce, whose resignation will be effective this Friday, October 2, voted ‘no’ on market transparency for years.
She was a Senior Research Fellow at the Mercatus Center at George Mason University and the director of the Financial Markets Group.
The Intercept reported that Hester Peirce received 98% of her salary from the Mercatus Center, a “think tank” that provides an “academic façade to a radical anti-regulatory agenda.”
Mercatus Center focuses on the lobbying priorities of its corporate funders.
The Mercatus Center was described by the Wall Street Journal “as a coordinating center for lobbyists trying to block a flurry of regulations.”
Former President Barrack Obama first nominated Hester Peirce to fill in the Republican seat on the SEC during his administration but was appointed by Donald Trump on January 11, 2018.
Peirce’s History of Failing Retail Investors
Hester Peirce was an associate at Wilmer, Cutler & Pickering law firm which later became WilmerHale.
WilmerHale are also lobbyists, as depicted in their annual lobbying income report.
In 2004 we also see Citadel show up in the law firms income report.
Hester Peirce worked at Wilmer, Cutler, & Picker from 1998-2000, raising flags of the significant conflict of interest during the commissioner’s tenure at the SEC.
During her time at the SEC, Peirce opposed regulating private funds such as private family offices, stating they are not a systemic risk to the financial system.
Archegos Capital Management, a family office that traded like a hedge fund under lose rules, is a prime example of these lose rules.
The firm used extreme financial leverage—borrowing heavily via total return swaps from major global banks—to build a massive, concentrated portfolio totaling over $100 billion.
When its stock bets turned sour in March 2021, it failed to meet margin calls, resulting in a $20 billion liquidation and over $10 billion in losses for major lenders.
Founder Bill Hwang was then sentenced to 18 years in federal prison in November 2024 for orchestrating a massive, multi-billion-dollar fraudulent scheme that led to the dramatic collapse of Archegos Capital Management in 2021.
And in 2023, Peirce turned a blind eye to the fraud that left MMTLP investors’ money trapped in a rare FINRA U3 halt before being delisted.
In a Financial Services Institute (FSI) conference held in Washington, D.C. on May 20, 2025, Hester Peirce and Financial Industry Regulatory Authority (FINRA) CEO Robert Cook emphasized the critical need for a robust partnership between their organizations to maintain a “pulse on the market.”
To this date, the SEC and FINRA have buried the matter.
Retail Investors Cheer Peirce’s SEC Departure
On social media, retail investors are cheering the departure.
Reddit posts were filled with comments such as, “GOOD FUCKING RIDDANCE”, and “Wonder which hedge-fund she’ll revolving door into.”
“Interesting to see what kind of piece of shit banking/hedgefund job she ends up with next, as a reward for fucking over retail traders at the SEC,” said another user.
Hester Peirce is headed to Regent University School of Law in Virginia Beach, Virginia, where she will become an associate professor starting in November 2026.
Regent announced the appointment in May, before her SEC resignation became official.
Hester Peirce’s Resignation Letter
Hester Peirce leaves resignation letter to President Donald Trump as she prepares to leave the SEC.
“Dear Mr. President,
Thank you for giving me the opportunity to serve as a Commissioner of the Securities and Exchange Commission. I write to submit my resignation, effective October 2, 2026.
Serving this great nation at the Securities and Exchange Commission has been the honor of my professional lifetime. The United States is exceptional because its unifying thread is a commitment to liberty . A nation that elevates freedom of thought expression, and action unlocks the great potential of its people to meet one another’s needs. That ethos runs through the American securities markets, where innovators meet retail and institutional investors so that together they can build a vibrant economy.
Maximizing people’s freedom to choose what is best for themselves and their families within sensible regulatory parameters designed to give them the confidence to transact with others is a delicate and vitally important task for the regulator. I leave the position confident that under the excellent leadership of Chairman Paul Atkins and Commissioner Mark Uyeda, the talented men and women of the Securities and Exchange Commission will continue to achieve that balance.
Gratefully,
Hester Peirce Commissioner”
But I’m curious to know — how do you personally feel about Hester Peirce resigning from the SEC? Leave your thoughts below.
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Frank Nez is an American entrepreneur, journalist, writer, and investor. Frank's work has been cited by SEC and Congressional reports. Franknez.com is a personal finance and market news publication, dedicated to publishing content on money, investing, entrepreneurship, and retail investor news.
