Gary Gensler to Be Named Head of S.E.C.

Gary Gensler to Be Named Head of S.E.C.

Gary Gensler to Be Named Head of S.E.C.Mr. Gensler led the Commodity Futures Trading Commission in the aftermath of the 2008 financial crisis, reinvigorating a regulator that at times overshadowed the agency he's now been tapped to lead.Gary Gensler in 2018 at the M.I.T. Sloan School of Management, where he teaches financial technology.Credit...Kayana Szymczak for The New York TimesBy Matthew Goldstein, Lauren Hirsch and Andrew Ross SorkinThe Biden administration is tapping two financial regulators from the Obama administration to oversee key departments that had loosened their grip of the industry under President Trump, according to two people with knowledge of the plans.Gary Gensler, who led the Commodity Futures Trading Commission during the Obama administration from 2009 to 2014, will be President-elect Joseph R. Biden Jr.'s nominee to lead the Securities and Exchange Commission, these people said. Also, Rohit Chopra, the former assistant director of the Consumer Financial Protection Bureau, has been chosen to run that agency.Mr. Gensler is a veteran regulator who played a central role in bringing the big banks to heel in the aftermath of the 2008 financial crisis, giving new teeth to a watchdog agency. Lately, as an academic, he has been schooling himself on digital currencies