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Gary Gensler

Gary Gensler, the former chairman of the Commodity Futures Trading Commission, will be President-elect Joe Biden’s pick to become the new head of the Securities and Exchange Commission, according to Reuters.

“A knowledgeable and aggressive choice,” Nick Morgan, a partner at the global defense firm Paul Hastings, told ThinkAdvisor in a Tuesday email message. “As the chair of the CFTC during the Obama administration, Gensler earned a reputation as an aggressive regulator following the financial crises, particularly in his pursuit of the LIBOR manipulation cases.”

Gensler, however, “does not have the criminal prosecution background that [former SEC chair] Mary Jo White had, which may suggest a more career regulator approach than a ‘tough on crime’ approach,” Morgan said.

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Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. She also wrote freelance articles for Institutional Investor in New York. You can reach her at [email protected] On twitter: @Think_MelanieW

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