(Bloomberg) — Alison Herren Lee has said she plans to step down as a commissioner at the Securities and Exchange Commission to create a second vacancy above Wall Street’s chief regulator.
According to a statement Tuesday, Lee, a Democrat, will remain the watchdog until President Joe Biden names his successor and the person is confirmed by the US Senate. His term is set to end in June.
“In the coming weeks and months, I will be actively involved in the Commission’s critically important work, and I look forward to continued progress in advancing the Commission’s regulatory agenda,” Lee said in the statement.
Lee, who has been commissioner since 2019, last year served as the agency’s acting chairman during a period of wild trading at GameStop Corp. and other meme stocks that prompted calls for more regulations. He has also been instrumental in helping Chair Gary Gensler craft climate-change disclosure rules, which the SEC is set to propose next week. Lee’s departure would mark the second open position on the watchdog, after Alad Roisman left the Republican seat vacant earlier this year.
