Gary Gensler confirmed by Senate to lead the SEC, Wall Street’s top regulator

Gary Gensler confirmed by Senate to lead the SEC, Wall Street’s top regulator

Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Tuesday, July 30, 2013.

Gary Gensler will lead the Securities and Exchange Commission after the Senate voted 53-45 on Wednesday to confirm his nomination to the nation's top financial regulator.

Gensler, chosen for the role by President Joe Biden, will now play a key part in enforcing and drafting the rules that govern Wall Street, investors and a wide range of other financial entities.

Now, with the SEC commissioners possessing a 3-2 Democratic majority, Gensler will likely have a long to-do list after he settles in to his new job.

Progressives expect the 63-year-old to follow through on his promises to look into a range of topics, including digital currencies, the GameStop trading mania and how corporate America prioritizes environmental, social and governance issues.

Sen. Sherrod Brown, the chairman of the Senate Banking Committee, was quick to offer praise for Gensler following the vote.

"Mr. Gensler will lead the SEC at a time when it's become more and more obvious to most people that the stock market is detached from the reality of working families' lives," the Ohio Democrats said in a statement. "Mr. Gensler