The Securities and Exchange Commission announced today that President Joe Biden designated Allison Herren Lee as acting chair of the agency.
Biden plans to nominate Gary Gensler as chairman of the SEC. Lee will serve as acting chair until the Senate completes Gensler’s confirmation hearing.
“It’s an honor to continue my service on the Commission in this new role,” Acting Chair Lee said. “I have tremendous respect for my colleagues on the Commission and the exceptional staff across the agency, and look forward to working closely with them. Together we will continue the agency’s work of protecting investors and ensuring market integrity.”
“During my time as Commissioner, I have focused on climate and sustainability, and those issues will continue to be a priority for me,” Lee added.
Acting Chair Lee was sworn in as Commissioner on July 8, 2019 after unanimous confirmation by the Senate. She has written, lectured, and taught courses internationally on financial regulation and corporate law. She served on the staff of the SEC for over a decade in various roles, including as counsel to Commissioner Kara Stein and as Senior Counsel in the Division of Enforcement’s Complex Financial Instruments Unit.
In addition, she has served as a Special Assistant U.S. Attorney, was a member of the American Bar Association’s former Committee on Public Company Disclosure, and participated on a USAID project in Armenia, assisting in the drafting of periodic reporting and disclosure provisions for a comprehensive law of the Republic of Armenia on Securities Market Regulation. Prior to government service, Commissioner Lee was a partner at the Denver law firm of Sherman & Howard LLC, focusing on securities, antitrust, and commercial litigation.