President Trump
Donald Trump The New York Post’s editorial board urges President Trump to ‘start thinking’ about Georgia’s runoff instead of canceling the elections. on Monday, Elad Roisman appointed acting chairman of the Securities and Exchange Commission (SEC), the agency announced.
Roisman, a Republican, was appointed by Trump and confirmed to the SEC in 2018 after serving as chief adviser to the Republican Party on the Senate Banking Committee. He succeeds former President Jay Clayton, who was appointed to the SEC by Trump and has led the investment regulator since May 2017.
Clayton, whose SEC term expires in 2021, said in November that he would resign from the SEC in late 2020. His announcement came months after Trump appointed Clayton to replace Geofrey Berman, the former US attorney for the Southern District of New York.
Although Clayton sought to remain in the Trump administration while returning home to New York, his lack of experience as a prosecutor and the controversy over Berman’s dismissal hindered his nomination. He was a partner at the law firm Sullivan & Cromwell before joining the SEC, specializing in mergers, acquisitions and stock offers on Wall Street.
Roisman will lead an equally divided SEC along the lines of the party, serving with Republican commissioners Hester Peirce and Democratic commissioners Allison Lee and Caroline Crenshaw. All were nominated by Trump for the SEC, which is legally prohibited from having more than three members from any political party.
Clayton’s departure also gives President-elect Biden an opportunity to install a Democratic majority in the SEC with a new member. SEC commissioners have fixed terms, but the president can appoint any commissioner to serve as president. Biden could nominate Lee or Crenshaw to chair the SEC or appoint another Democrat to replace Clayton and serve as president.