Throughout January 2025 the SEC experienced numerous resignations and retirements from the organization.
The highest profile departure is undoubtedly Chairperson Gary Gensler, who announced in November he would leave the SEC. His resignation became official on January 20, 2025. To replace Gensler, President Trump designated Mark T. Uyeda as Acting Chairman of the agency on January 21, 2025.
In addition to Gensler’s resignation, the terms of two of the other four SEC commissioners expire in either 2024 or 2025.
The SEC also announced:
- Sanjay Wadhwa, the Acting Director of the Division of Enforcement, will depart the agency, effective January 31, 2025, after more than 21 years of service with the Commission.
- The departure of Scott Schneider, a counselor to Chair Gary Gensler and Director of the Office of Public Affairs (OPA), effective in February.
- Corey Klemmer will step down from her role as Policy Director, a role she has held for less than a year.
- The departure of Amanda Fischer, who has served as Chief of Staff since Jan. 1, 2023.
Other positions that will need to be filled include General Counsel, Director of International Affairs, Chief Economists and Chief Accountant.
Key Takeaways: Gensler’s tenure was ambitious but controversial in many respects, particularly as it related to the regulation of private funds. While many of these departures won’t have any immediate, overwhelming impact on the day-to-day examinations, both ongoing and beginning, it does represent an opportunity for the SEC to shift its focus.