SEC Commissioner Uyeda Named Interim Agency Head Under Trump (1)

SEC Commissioner Mark Uyeda will serve as the agency’s acting chair until President Donald Trump installs a permanent head.

The Republican’s appointment became effective Monday, according to official documents signed by Trump in the first hours of his second presidency. Uyeda was named by Trump on an interim basis among 14 other temporary or official agency heads.

Uyeda has pushed to open private markets to more investors and opposed Democratic efforts to restrict cryptocurrency markets and increase environmental, social, and governance disclosures since joining the Securities and Exchange Commission in 2022.

Uyeda will have the power to undo SEC policies stemming from Gary Gensler, the Democratic agency chair who stepped down Monday. Crypto accounting guidance that Congress tried to eliminate last year could be among the polices that disappear.

The SEC is unlikely to adopt big rules or roll back old ones until another Republican joins the agency. Caroline Crenshaw, the SEC’s lone Democratic commissioner, effectively holds a veto over agency rulemaking. She’s joined by Republican Commissioner Hester Peirce, who has advocated for more lax rules around cyptocurrency.

A three-member commission can only advance a regulation if all the commissioners participate in a vote to do so, unless there’s a recusal or disqualification, according to SEC quorum rules.

Trump has picked former SEC commissioner Paul Atkins to serve as the agency’s permanent chair, also officially announced Monday. His Senate confirmation would provide Republicans with a third vote to move on rules. The Senate has yet to schedule a hearing on Atkins. Uyeda worked for Atkins during his tenure on the commission from 2002 to 2008.

—With assistance from Amanda Iacone.