Republican Elad Roisman has been named acting chairman of the Securities and Exchange Commission by President Donald Trump, according to SEC Commissioner Hester Peirce.
Roisman is succeeding Jay Clayton, who stepped down as SEC chairman Wednesday, Peirce, a Republican member of the commission, told Bloomberg Law Thursday. Roisman became an agency commissioner in 2018.
He inherits a commission that has two Democrats and two Republicans, including himself and Peirce. The division effectively gives Democratic Commissioners Allison Lee and Caroline Crenshaw veto power over any significant rulemaking work they don’t support.
Roisman likely will lead the agency until President-elect Joe Biden ...
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