Commissioner Roisman to Resign in January

SEC  Commissioner Elad Roisman, who joined the agency in 2018, announced that he would step down at the end of January 2022. “Serving the American people as a Commissioner and an Acting Chairman of this agency has been the greatest privilege of my professional life. It has been the utmost honor to work alongside my extraordinary SEC colleagues, who care deeply about investors and our markets,” according to a statement from Roisman. The Wall Street Journal noted that Roisman has increasingly opposed Chairman Gary Gensler’s policy moves, particularly proposed changes to payment for order flow and recent proposed changes to money market funds regulation. Roisman’s departure will leave the SEC with a greater Democratic majority. Chair Gensler in a statement thanked Roisman for his service, saying: “I’d like to thank Commissioner Roisman for his dedicated service to the Commission and to the American public, both as a Commissioner and as Acting Chairman. While we didn’t always agree on policy matters, I’ve come to rely on his judgment and expertise, and I have enjoyed a positive working relationship with him.”