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SEC Commissioner Jaime Lizárraga announced his decision to step down on January 17, 2025, as the Donald Trump administration prepares to assume office. A Democrat since 2022, Lizárraga cited personal family reasons for his departure. Notably, His resignation will reduce the commission to one democratic commissioner, Caroline Crenshaw, and two Republican commissioners, Hester Peirce and Mark Uyeda. US SEC Faces Leadership Shift as Commissioner Lizárraga Steps Down According to a recent filing, SEC Commissioner Jaime Lizárraga will officially resign from the US SEC by January 17, 2025. His decision is made at the backdrop of Donald Trump preparing to take office three days later. This also means change of guard within the commission as the current US SEC Chair Gary Gensler is expected to leave office on January 20, 2025, the Inauguration day of Trump. His resignation comes after weeks of pressure to remove him starting with Trump’s pledge to fire him. Lizárraga, known for advancing corporate reporting on climate risk and data breaches, cited his wife’s battle with breast cancer as the reason for stepping down. He emphasized need to prioritize his family during this critical time. Jaime Lizárraga stated,  “For the better part of this year, my wife, Kelly, has confronted serious illness with admirable courage and a strong spirit. In reflecting on the challenges that lie ahead, we have decided that it is in the best interests of our family to close this chapter in my 34-year public service journey.” Lizárraga’s departure leaves the Securities and Exchange Commission with just one Democratic Commissioner, Caroline Crenshaw. The two remaining Republican members are Hester Peirce and Mark Uyeda. This shift will alter the commission’s political balance and spark potential challenges in advancing or overturning regulatory measures.  With a three-member commission, the commission’s quorum rules mandate full participation to adopt…

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Filed under: News - @ November 23, 2024 4:26 am