By a vote of 52 to 45 today, the Senate confirmed Gary Gensler to serve as chairman of the Securities and Exchange Commission. Gensler previously served as chairman of the Commodity Futures Trading Commission from 2009 to 2014, where he led rulemaking to implement several Dodd-Frank Act reforms to swaps and derivatives markets.
“We congratulate Gary Gensler on his confirmation to serve as chair of the Securities and Exchange Commission and look forward to working with him to further our shared goal of protecting investors and promoting capital formation at this important moment for the economy,” ABA President and Rob Nichols said in a statement after the vote. “The SEC plays a critical role in overseeing our financial markets and ensuring they are healthy and competitive. Gensler’s broad experience in government, the private sector and academia will serve him well as he leads the commission.”