Elad Roisman, one of two Republicans on the U.S. Securities and Exchange Commission, said Monday that he plans to step down by the end of January.
His departure will leave Hester Peirce as the only GOP commissioner at the agency as Gary Gensler pursues an ambitious rule-making agenda that is opposed by some business groups. Gensler, who took over in April, is joined by Democrats Allison Herren Lee and Caroline Crenshaw.
Roisman, who has been a commissioner since 2018, played a key role in Trump-era efforts by the SEC to rein in proxy advisory firms and to make it easier for companies to block submissions from newer stockholders who don’t own many shares. He pushed back on the agency’s efforts under Gensler to undue those changes.
“It has been the utmost honor to work alongside my extraordinary SEC colleagues, who care deeply about investors and our markets,” Roisman, who briefly served as acting chair of the SEC at the end of the Trump administration, said in a statement. He didn’t say what he plans to do next.
Roisman, who is an attorney, previously worked as a staffer on the Senate Banking Committee and as a lawyer for the New York Stock Exchange early in his career.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
