Allison Herren Lee has been named acting chair of the Securities and Exchange Commission by President Joe Biden. Lee has served as an SEC commissioner since 2019.
Biden has nominated Gary Gensler, the former chairman of the Commodity Futures Trading Commission, to serve as SEC chairman, but that nomination must be approved by the Senate.
Former SEC Chairman Jay Clayton departed on Dec. 23. Former President Donald Trump had appointed a Republican commissioner, Elad L. Roisman, as acting chairman on Dec. 28.
Roisman and the other two members of the SEC, Hester Peirce and Caroline Crenshaw, issued a statement congratulating Lee. “We look forward to continuing our work together to protect investors, maintain fair, orderly and efficient markets, and facilitate capital formation,” they said in the statement.
Before becoming a commissioner, Lee had been a member of the SEC staff for more than 10 years, serving as counsel to former commissioner Kara Stein and working in the enforcement division.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
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