Mark Uyeda, a Republican commissioner at the Securities and Exchange Commission, has been named acting chair of the agency following Gary Gensler’s resignation.
The White House confirmed Uyeda’s appointment on Jan. 21, the day after President Donald Trump’s second inauguration.
Uyeda, who joined the SEC in June 2022, has been an outspoken critic of Gensler’s regulatory approach. As noted by Reuters, the Gensler-led SEC implemented an expansive rulemaking agenda focused on increasing transparency and curbing risks in capital markets.His tenure also included aggressive enforcement actions against cryptocurrency firms that the agency alleged violated securities laws. Uyeda, however, has called for a shift in priorities.
“The pending administration change will give the SEC a chance to reset its regulatory agenda to focus on capital formation and innovation, while protecting investors, like seniors, from scam artists defrauding them,” Uyeda told Reuters in November.
President Trump previously announced plans to nominate ex-SEC commissioner Paul Atkins as the permanent chair. Atkins, a noted proponent of regulatory rollbacks, is expected to steer the SEC in a markedly different direction. Both Uyeda and Commissioner Hester Peirce previously worked under Atkins during his tenure at the SEC, signaling potential continuity in philosophy between the two leaders.
During his time at the agency, Uyeda has been a vocal advocate for reducing regulatory barriers to public listings and developing clear rules for digital assets. He has criticized the SEC’s handling of the crypto industry, describing its approach as a “disaster for the whole industry” in a 2024 interview. Market participants are now watching closely for changes in the agency’s stance under his leadership.
Uyeda’s appointment comes amid a wave of senior staff departures from the SEC, including Chief of Staff Amanda Fischer; Policy Director Corey Klemmer; and Acting Enforcement Director Sanjay Wadhwa, who took over after the previous enforcement chief Gurbir Grewal stepped down in October. These exits, all announced on Friday, come as the Trump administration gets its opportunity to reshape regulatory oversight of the investment and financial markets.
Friday also saw a barrage of enforcement actions from the SEC, with separate multimillion-dollar penalties ordered against Wells Fargo and Merrill, LPL, and Vanguard, among other entities.
In a joint statement issued on Gensler’s final day Monday, Uyeda, along with fellow contrarian commissioners Peirce and Caroline Crenshaw praised his public service and commitment to the SEC’s mission.
“Although as commissioners we approached policy issues from different perspectives, there was always dignity in our differences,” they wrote. “We are proud to have served this great agency alongside you.”
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Markets have always been unpredictable. What has changed is the amount of information investors are trying to process and the growing role advisors play in helping clients avoid emotional decisions
Six apartment deals, one "big account," and $2.7M in undocumented insider loans. Now the lawsuit lands
The Illinois order refers to Brandon Ellington’s investment program as a “Ponzi-like scheme.”
But the Amazon executive chair seems to want it both ways, arguing that taxing the ultra-wealthy won't help struggling Americans.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
