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Senate confirms SEC chief Gensler to full five-year term

Senate confirms SEC chief Gensler to full five-year term
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The Senate on Tuesday voted to approve Securities and Exchange Commission (SEC) Chairman Gary GenslerGary GenslerFinancial market transactions should not be taxed or restricted Putting the SEC cops back on the Wall Street beat On The Money: US economy roars in first three months of 2021 | Jobless claims drop again | White House: No tax hikes for couples making less than 9K MORE for a full five-year term after confirming him to the Wall Street watchdog last week.

Senators voted 54 to 45 for Gensler to serve as a commissioner and chairman of the SEC through June 5, 2026. The Senate last week confirmed Gensler to serve the remaining two months of former SEC Chairman Jay Clayton’s term by a nearly identical margin.

Sens. Chuck GrassleyChuck GrassleyLawmakers bicker over how to go after tax cheats On The Money: Biden says workers can't turn down job and get benefits | Treasury launches state and local aid | Businesses jump into vax push Grassley criticizes Biden's proposal to provide IRS with B MORE (Iowa), Cynthia LummisCynthia Marie LummisHillicon Valley: Global cybersecurity leaders say they feel unprepared for attack | Senate Commerce Committee advances Biden's FTC nominee Lina Khan | Senate panel approves bill that would invest billions in tech Senate Commerce Committee advances Biden's FTC nominee Lina Khan Senate votes to repeal OCC 'true lender' rule MORE (Wyo.) Susan CollinsSusan Margaret CollinsCDC's about-face on masks appears politically motivated to help a struggling Biden Bipartisanship has become a partisan weapon Romney: Capitol riot was 'an insurrection against the Constitution' MORE (Maine), and Mike RoundsMike RoundsGOP split on counteroffer to Biden's spending Democrats, GOP agree on one thing: They're skeptical of a deal Senate GOP keeps symbolic earmark ban MORE (S.D.) were the only Republicans to vote for Gensler’s confirmation, and Sen. Richard BurrRichard Mauze BurrRomney: Capitol riot was 'an insurrection against the Constitution' GOP senator urges Biden to withdraw support for COVID vaccine patent waiver Utah county GOP censures Romney over Trump impeachment vote MORE (N.C.) voted present.

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All 50 members of the Senate Democratic caucus, including independent Sens. Bernie SandersBernie SandersMusk's SpaceX has a competitive advantage over Bezos' Blue Origin New York, New Jersey, California face long odds in scrapping SALT  Warren calls for US to support ceasefire between Israel and Hamas MORE (Vt.) and Angus KingAngus KingDC statehood bill picks up Senate holdout Senate panel deadlocks in vote on sweeping elections bill Senate descends into hours-long fight over elections bill MORE (Maine), voted for Gensler.

Gensler, who was sworn in to the SEC on Sunday, was a professor at the MIT Sloan School of Management before joining the commission. He was also the chairman of the Commodity Futures Trading Commission (CFTC) during the Obama administration, a Treasury Department undersecretary during the Clinton administration and a partner at Goldman Sachs for almost two decades.

The SEC is currently split between three Democratic and two Republican commissioners. It is banned under law from having more than three commissioners from the same political party.

Democratic Commissioners Allison Herren Lee and Caroline Crenshaw and Republican Commissioners Hester Peirce and Elad Roisman were all appointed by former President TrumpDonald TrumpFranklin Graham says Trump comeback would 'be a very tough thing to do' Man suspected in wife's disappearance accused of casting her ballot for Trump Stefanik: Cheney is 'looking backwards' MORE