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Joe Biden is expected to nominate Gary Gensler to lead SEC

Saleha Mohsin, Jennifer Epstein, Robert Schmidt and Ben Bain
Bloomberg

Gary Gensler, a former head of the U.S.’s main derivatives regulator, is President-elect Joe Biden’s likely pick to lead the Securities and Exchange Commission, according to two people familiar with the matter.

If nominated by Biden to be SEC chairman and confirmed by the Senate, Gensler would be the new government’s front-line regulator for Wall Street and the arbiter of what public companies must disclose to their investors. While Gensler is seen as the leading candidate, a final decision hasn’t yet been made, said one person, who asked not to be named before a public announcement.

Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler, right, and Securities and Exchange Commission (SEC) Chair Mary Jo White, prepare to testify on Capitol Hill in Washington, Tuesday, July 30, 2013.

A spokesperson for Biden’s transition declined to comment on Gensler’s potential selection, which was earlier reported by Reuters.