Biden Is Expected to Name Gary Gensler for SEC Chairman

By Andrew Ackerman, Dave Michaels and Paul Kiernan

WASHINGTON -- President-elect Joe Biden is expected to choose Gary Gensler, a former financial regulator and Goldman Sachs Group Inc. executive, to head the Securities and Exchange Commission, according to people familiar with the decision.

Mr. Gensler's nomination would please liberal Democrats who cheered the former regulator's tough approach to rule-making during the Obama administration, when he spearheaded the overhaul of derivatives markets mandated by the 2010 Dodd-Frank Act and the prosecution of big investment banks for manipulating the London interbank offered rate.

The choice of Mr. Gensler, who declined to comment, wasn't final and could still change, the people said.

Write to Andrew Ackerman at andrew.ackerman@wsj.com, Dave Michaels at dave.michaels@wsj.com and Paul Kiernan at paul.kiernan@wsj.com

(END) Dow Jones Newswires

January 12, 2021 16:45 ET (21:45 GMT)

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