Resignation of SEC's General Counsel Signals Shift Ahead of Trump's Era
Finance/Policy

Resignation of SEC's General Counsel Signals Shift Ahead of Trump's Era

With the departure of key legal officials, the SEC prepares for a new chapter under President-elect Trump.

Key Insights:

  • The SEC is undergoing significant changes with the exit of several top officials, including General Counsel Megan Barbero, which coincides with Donald Trump's return to government.
  • Trump's incoming SEC leadership will not have any holdovers from the previous administration, marking a fresh start for the agency.

The top lawyer at the SEC, General Counsel Megan Barbero, will step down next week, following a trend of numerous senior agency officials leaving as Trump re-enters the political landscape. "Her measured advice and judgment have been critical to the decision making of the Commission," stated Chair Gary Gensler in response to her departure scheduled for January 20. This date is significant, as Gensler himself will also be leaving, aligning with the inauguration of President-elect Trump.

Barbero had been an essential figure in guiding the SEC's legal strategies against the cryptocurrency sector since her appointment in February 2023. The agency's enforcement chief, Gurbir Grewal, left in October, and the accounting head Paul Munter is also preparing to exit soon.

Read More: Crypto's U.S. Banking Problem Likely Among the First Things Tackled Under Trump

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