As Donald Trump will appoint a new chairman of the Securities and Exchange Commission (SEC), Robinhood's chief legal and compliance officer appears to be a favorite. Who are the other candidates who could replace Gary Gensler?
Will Robinhood's general counsel take over as SEC chairman?
With the upcoming change of administration in the White House, we now know that Gary Gensler's days as head of the Securities and Exchange Commission (SEC) are numbered. The appointment of a new leader is part of the powers of the president, Donald Trump is therefore studying potential candidates.
While a few names are already being considered, Reuters reports that among them are Dan Gallagher, Robinhood's Chief Legal and Compliance Officer. The exchange allows its clients to invest in both stocks and cryptocurrencies, this choice would be a strong signal sent to the financial markets.
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Furthermore, the person concerned is already familiar with the Commission, because he was one of its commissioners for the Republican camp between 2011 and 2015. For the moment, Dan Gallagher has not provided any comments, but according to 2 people familiar with the matter, he is currently the favorite for the position.
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The other candidates in the running
Among the other profiles under consideration for the post of president of the SEC, there would also be Paul Atkins. Here again, this is a candidate familiar with the institution, because he was also a commissioner. Moreover, he was part of Donald Trump's transition team in 2016. Paul Atkins is also the CEO and founder of the consulting firm Patomak Global Partners.
Robert Stebbins, lawyer for Willkie Farr & Gallagher, is also a name that could be considered. During Donald Trump's first term, he served as legal advisor to the SEC.
Karoline Leavitt, Donald Trump's national press secretary, vaguely commented on these discussions:
President-elect Trump will soon begin making decisions about who will serve in his second administration. These decisions will be announced when they are made.
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Furthermore, we can also mention the name of Hester Peirce, a current commissioner of the Commission who has been favorably noticed by the crypto ecosystem on several occasions, by positioning itself against the grain of Gary Gensler's policies. However, she reportedly indicated that she did not want to take this position.
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Source: Reuters
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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