Senate to move forward next month with Gary Gensler's SEC nomination


The U.S. Senate is scheduled to move forward with its consideration of Gary Gensler as chair of the Securities and Exchange Commission (SEC) on April 12, according to an update to the legislative body's executive calendar. 

A new notice says the Senate will go into executive session after morning business on April 12. There, it will continue its consideration of multiple nominees from the Biden Administration, including Gensler. It will also consider Polly Ellen Trottenberg's nomination for Transportation Secretary Wendy Ruth Sherman for Deputy Secretary of State and Brenda Mallory for the Council on Environmental Quality. 

Gensler's confirmation hearing took place on March 2, and he later cleared the Senate Banking Committee with a 14-10 vote. During his confirmation hearing, he told Congress he believes cryptocurrencies are a "catalyst for change." The former Commodities Futures Trading Commission (CFTC) chair is knowledgeable about the crypto space, teaching a course on blockchain at the Massachusetts Institute of Technology. 

Allison Herren Lee remains acting chairwoman of the securities regulator as Gensler awaits confirmation. If Gensler is confirmed, he will serve the remainder of the term left open by former chairman Jay Clayton, which expires on June 5. 

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May 5, 2022, 3:17PM UTC