SEC Commissioner Herren Lee Announces Departure

SEC Commissioner Allison Herren Lee, whose term expires in June, announced she would be stepping down from her role once a successor has been confirmed. Commissioner Lee served as acting SEC Chair when Jay Clayton stepped down from the Chair post in 2021. In his remarks regarding her departure, SEC Chair Gary Gensler noted that during her tenure as Acting Chair, Lee “brought swift focus to important investor issues, such as climate-related disclosures.” Lee’s departure leaves two open seats for President Biden to fill at the Commission, former Republican Commissioner Elad Roisman stepped down in December. The Senate is likely to consider the Democratic and Republican nominees as a pair during the confirmation process.