Gary Gensler, U.S. Securities and Exchange Commission Chair, is one of the world's most powerful financial regulators and a key player in the push by the government to regulate the trillion . U.S. Securities and Exchange Commission Chair Gary Gensler talks about open markets, regulating cryptocurrencies and keeping up with technology. [83][84] On May 12, FTX CEO Sam Bankman-Fried disclosed a Schedule 13D filing with the SEC to buy a 7.6 percent ownership stake in Robinhood Markets. [53] On May 11, Gensler stated in an interview with Bloomberg News that cryptocurrency exchanges were market making against the interests of their customers after warning the U.S. House Appropriations Subcommittee on Financial Services and General Government that cryptocurrency exchanges were engaged in front running the previous May. Emphasizing that "there are many technical and commercial challenges yet to overcome, I'm an optimist and . None of them are the former or current CEO of cryptocurrency exchange FTX. Gensler was born into a Jewish family,[6] in Baltimore, Maryland, one of five children of Jane (ne Tilles) and Sam Gensler. . The SEC reportedly met with FTX and former CEO Sam Bankman-Fried several times before the crypto firm filed for bankruptcy. A native of Baltimore, Md., Gensler earned his undergraduate degree in economics in 1978 and his MBA from The Wharton School, University of Pennsylvania, in 1979. He raised three daughters alone after his wife died from cancer in 2006. Gensler also received a $1,000 honorarium, a voluntary payment, by the World Bank on November 20 2019. [106][107] On June 23, 2020, Amazon.com, Inc. announced a $2 billion venture fund to invest in startup companies developing strategies to reduce greenhouse gas emissions as part of a strategy to be climate neutral company by 2040,[108] after announcing a $10 million investment to two projects in the Appalachian Mountains the previous April to manage their lands to maximize greater carbon removal, the first investment from a $100 million initiative to support reforestation and habitat restoration. As Assistant Secretary, Gensler served as a senior advisor to the Secretary of the Treasury in developing and implementing the federal government's policies for debt management and the sale of U.S. government securities. REUTERS/Jose Luis Magana/File If Gary Gensler sounds a lot like Elizabeth Warren, it's not by accident but by design. [215] On May 16, Twitter CEO Parag Agrawal posted a tweet detailing company policies for addressing fake and spam accounts in response to Musk (to which Musk posted a tweet in return). His mom worked for Hillary Clinton and now works for joe Biden. Almost exactly one year ago, Gary Gensler was confirmed as chair of the Securities and Exchange Commission. [208][209] On April 27, Southern New York U.S. District Court Judge Lewis J. Liman denied Musk's motion to terminate the 2018 settlement. [125] On June 10, the SEC was reportedly investigating the ESG investment funds of Goldman Sachs for potential greenwashing. WASHINGTON, DC - SEPTEMBER 14: Gary Gensler, Chair of the U.S. Securities and Exchange Commission, testifies before a Senate Banking, Housing, and Urban Affairs Committee oversight hearing on the . [250] He also is a mountain climber, having summited Mt. [51], The Economist identified the risks presented by decentralised finance and crypto-assets valued at $2.5 trillion as a challenge for Gensler in 2022, and noted his experience in teaching blockchain technology. Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III, U.S. House Committee on Financial Services, "Warren Asks Gensler to Remove Accounting Oversight Board Members", "SEC fires Republican audit watchdog after push from Warren, Sanders", "SEC Investigating Former Chair of Auditing Industry Regulator", "SEC to Review Market Structure as Meme Stocks Stir Frenzy", "Robinhood Stock Drops After SEC Chairman Warns on Payment for Order Flow", "SEC Chairman Calls for New Restrictions on Executive Stock-Trading Plans", "Robinhood Agrees to Pay $70 Million to Settle Regulatory Investigation", "Robinhood falls in its public market debut, closes more than 8% lower at $34.82 per share", "Robinhood's Stock Price Falls After IPO", "SEC approves Nasdaq's plan to boost diversity on corporate boards", "SEC Launches Review of Online Strategies Used by Brokers, Advisers", "SEC finalizes rule that allows it to delist foreign stocks for failure to meet audit requirements", "CEOs and insiders sell a record $69 billion of their stock, and the year isn't over yet", "SEC Chair Gary Gensler wants stronger insider trading rules as executive stock sales hit records", "Robinhood Meme-Stock Negligence Suit Is Rejected by Judge", "Tough questions await SEC Chair Gensler as he seeks funding for his regulatory agenda", "Fiscal Year 2023 Budget Request for the Federal Trade Commission and the Securities and Exchange Commission", "SEC's Gensler speaks Wednesday, and rules that overhaul market operations could be coming", "U.S. SEC chief Gary Gensler unveils plan to overhaul Wall Street stock trading", "Robinhood shares pop more than 20% after Sam Bankman-Fried buys 7.6% stake", "FTX Founder Sam Bankman-Fried Buys 7.6% Stake in Robinhood", "Robinhood shares jump 14% on report FTX may be exploring a deal", "Robinhood Shares Soar on Takeover Hopes", "FTX says no active talks to buy Robinhood", "Crypto exchange FTX U.S. moves into stock trading", "Crypto exchange FTX quietly shops for brokerage start-ups amid move into stock trading, sources say", "Robinhood Was Behind Phantom Surge in Berkshire Hathaway Trade Volume, Study Finds", "The reason behind a mysterious trading surge in stocks like Berkshire Hathaway has been revealed", "Microsoft backs direct air capture player Climeworks", "How the largest direct air capture plant will suck CO2 out of the atmosphere", "Microsoft's million-tonne CO2-removal purchase lessons for net zero", "Microsoft Pledges To Remove From The Atmosphere All The Carbon It Has Ever Emitted", "Microsoft wants to capture all of the carbon dioxide it's ever emitted", "Microsoft made a giant climate pledge one year ago here's where it's at now", "Bitcoin's wild ride renews worries about its massive carbon footprint", "Bitcoin consumes 'more electricity than Argentina', "Crypto crash 'will not affect Bitcoin mining's climate cost', "Tesla buys $1.5 billion in bitcoin, plans to accept it as payment", "Apple launches $200 million fund for climate change", "Report: Climate pledges from Amazon, others weaker than they seem", Corporate Climate Responsibility Monitor 2022: Assessing the Transparency and Integrity of Companies' Emission Reduction and Net-Zero Targets, "Amazon creates a $2 billion climate fund, as it struggles to cut its own emissions", "How Amazon's offsets could exaggerate its progress toward "net zero" emissions", "Amazon's carbon emissions rose 19% in 2020 even as Covid-19 pushed global levels down", "Court ruling on social cost of carbon upends Biden's climate plans", "Appellate court rules Biden can consider climate damage in policymaking", "Supreme Court won't block Biden rule on societal cost of greenhouse gases", "Supreme Court Allows Greenhouse Gas Cost Estimates", "Supreme Court allows Biden climate regulations while fight continues", "ConocoPhillips is selling extra gas to bitcoin miners in North Dakota", "The SEC wants to know a lot more about what companies are doing about climate change", "SEC proposes broad climate rules as Chair Gensler says risk disclosure will help investors", https://www.wsj.com/articles/gary-gensler-stages-a-climate-coup-securities-and-exchange-commission-blackrock-11647899043, "Exxon is mining bitcoin in North Dakota as part of its plan to slash emissions", "Stripe teams up with major tech companies to commit $925 million toward carbon capture", "Why Big Tech is pouring money into carbon removal", "Elon Musk is smart but he doesn't understand ESG, tech CEO says", "SEC unveils rules to prevent misleading claims and enhance disclosures by ESG funds", "SEC Is Investigating Goldman Sachs Over ESG Funds, Sources Say", "Exxon, BP, Shell and Chevron Executives Testify on Climate Change", "How Exxon Mobil plans to meet the energy transition: Extended Interview with CEO Darren Woods", "Exxon Mobil is at a crossroads as climate crisis spurs clean energy transition", "Supreme Court limits EPA authority to set climate standards for power plants", "The Supreme Court's EPA ruling is a big setback for fighting climate change, but not a death knell", "Supreme Court limited EPA's ability to regulate greenhouse gas emissions. [11], In 2001, Gensler joined the staff of U.S. CFTC Headquarters Three Lafayette Centre 1155 21st Street, NW Washington, DC 20581 202.418.5000 ", "CFTC's Gensler says Libor 'unsustainable', "Gary Gensler, Former Commodity Futures Trading Commission Chairman, Wins Frankel Fiduciary Prize", "Financial Consumer Protection Commission, Maryland", "The Maryland Financial Consumer Protection Act of 2018 significantly increases state regulation", "Bill Would Provide Protections to Student Loan Borrowers", "Brown Statement at Executive Session to Vote on Nominees and Subcommittees", "On the Nomination (Confirmation: Gary Gensler, of Maryland, to be a Member of the Securities and Exchange Commission)" United States Senate, April 14, 2021, "On the Nomination (Confirmation: Gary Gensler, of Maryland, to be a Member of the Securities and Exchange Commission)" United States Senate, April 20, 2021, "Senators demand cryptocurrency regulation guidance from SEC Chair Gary Gensler", "The SEC is 'short-staffed' and it needs more help to tackle everything from crypto to China, Gensler says", "Gensler compares cryptocurrency market, regulations to 'wild west', "Securities and Exchange Commission Oversight Hearing", https://www.washingtonpost.com/washington-post-live/2021/09/21/path-forward-cryptocurrency-with-gary-gensler-us-securities-exchange-commission-chair/, "Bitcoin jumps to nearly 5-month high, topping $55,000 on Wednesday", "Oversight of the U.S. Securities and Exchange Commission: Wall Street's Cop Is Finally Back on the Beat", "The SEC is poised to allow the first bitcoin futures ETFs to begin trading, source says", "First bitcoin futures ETF to make its debut Tuesday on the NYSE, ProShares says", "What the SEC chair's comments on crypto mean for a possible bitcoin ETF", "SEC Chairman Gary Gensler embarks on ambitious regulatory agenda. [224], On June 6, Musk's attorneys disclosed a letter to the SEC accusing Twitter executives of a material breach of contract due to lack of information provided about fake and spam accounts and claimed to reserve Musk's right to terminate the merger agreement (despite Musk waiving due diligence in his offer to buy the company on April 14). [126] After noting that his company had launched a division to commercialize carbon capture in testimony before the U.S. House Oversight and Reform Committee on October 28, 2021,[127][128] ExxonMobil CEO Darren Woods discussed in an interview with CNBC journalist David Faber on June 24 that part of ExxonMobil's long-term strategy to remain a profitable company while reducing greenhouse gas emissions and plastic pollution was to invest in carbon capture and storage technology with a network hub in Houston and to remain a plastics producer while making improvements to waste management. Gary Gensler is the Undersecretary of Treasury for Domestic Finance. Gensler served as treasurer of the Maryland Democratic Party for two years,[9] and held several senior roles on the Maryland campaigns of U.S. Gary Gensler is an investor, public official, and Democratic Party activist nominated to serve as Chairman of the Securities and Exchange Commission (SEC) by President Joe Biden. [14] When the Treasury Department released draft legislation to bring regulatory oversight to the swaps market, Gensler sent a letter to Congress arguing that the proposal did not go far enough.[26]. Posted by fapthepolice Opinion: The reason the daughter of Gary Gensler's former boss will serve no jail time for the biggest fraud in history is that cryptocurrency is the issue. Gary Gensler, chairman of the Securities and Exchange Commission, has three daughters. Following a stint in the Treasury Department during the Clinton era, and before serving as head of the CFTC under Obama, Gensler spent the last years of his wife's life as a "stay-at-home dad" to. Before then, Gensler, the former chair of the Commodity Futures Trading Commission (CFTC), was a professor at MIT, where he taught courses on digital assets and the blockchain. Gary Gensler was nominated by President Joseph R. Biden to Chair the U.S. Securities and Exchange Commission on February 3, 2021, confirmed by the U.S. Senate on April 14, 2021, and sworn into office on April 17, 2021. [34] Under Gensler's leadership, the Commission recommended changes to State law to enhance consumer financial protections, including enhancing standards of care, clarifying State law to set standards for student loan servicers, and protecting Maryland buyers of manufactured homes. [255], Gensler is a runner and has finished nine marathons[8] and one 50-mile ultramarathon. [98][99][100] In 2021 and 2022, an index constructed by researchers at the University of Cambridge showed that bitcoin mining consumed more electricity during the course of the year than the entire nations of Argentina (a G20 country) and the Netherlands. Gensler previously worked as an Undersecretary of the Treasury in the Clinton administration, where he worked on financial industry regulation. By Thornton McEnery. . [15], While at Goldman Sachs, Gensler led a team that advised the National Football League in capturing the then-most lucrative deal in television history, when the NFL secured a $3.6 billion deal selling television sports rights. His . [212], On May 13, Musk posted a tweet that his acquisition of Twitter would be put on hold until statistics about spambots and fake accounts on Twitter were verified,[213][214] while the SEC and the Federal Trade Commission began investigations of Musk for violating filing deadlines for his Twitter passive ownership stake and his subsequent company acquisition proposal respectively. 95. [11], Gensler served on the board of for-profit university Strayer Education, Inc. from 2001 to 2009.[20]. Stop noticing things, and see the real culprit: those pesky cryptocurrencies. In a newer 2020 disclosure, Gensler says he expects to receive $977 a month, or $11,724 a year, to begin when he is 71. I hope that my educational and professional background has prepared me for the position to which I have been nominated. Gensler also taught at MIT with Glenn Ellison who is the father of Caroline Ellison.. TRENDING: Happy Martin Luther King, Jr. Day 2023 - And Remember, The Republican Party is the Party of Civil Rights Caroline is the famous girlfriend of FTX CEO Sam Bankman-Fried. Biography. Gary Gensler's ex-wife is non-other than Francesca Danieli, a filmmaker and photo collagist by profession. . Gensler also served as the CFO for the Hillary Clinton 2016 presidential campaign. [57], On June 7, U.S. Outside of Gensler's business and public service career, Gensler has co-authored a book with Greg Baer, a fellow Clinton Administration alum, The Great Mutual Fund Trap. [6] Gensler has called Libor "unsustainable" and argued that it should be replaced as a benchmark rate. [210][211] On April 30, Musk filed an amicus brief along with Dallas Mavericks team owner Mark Cuban in support of a petition to the U.S. Supreme Court by a former chief financial officer at Xerox to review a 2003 settlement the Xerox CFO made with the SEC that includes a gag order that the plaintiff argues is in violation of his First Amendment right to freedom of speech. He also is a mountain climber . [167][168] On December 6, the SEC opened an investigation of Tesla in response to a whistleblower complaint alleging the company did not properly disclose to its shareholders fire risks associated with its solar panels. If you need one word to sum up Gensler's . During his MIT career, Gensler was in close connection with Glenn Ellison and FTX CEO Caroline Ellison is the daughter of Glenn Ellison. [227][228], On July 8, Musk filed a letter with the SEC sent to Twitter executives notifying them that he intended to terminate his acquisition proposal of the company, to which Twitter Board Chairman Bret Taylor posted a tweet stating that the company would continue to attempt to close the transaction and that it would pursue legal action to enforce the merger. [38] On April 14, 2021, his nomination was confirmed in the Senate by a vote of 5345 to fill former chair Jay Clayton's term expiring in June 2021. Rumors have surfaced that SEC chairman Gary Gensler helped. [190][191], On March 8, Musk filed a motion with the court to have the 2018 settlement with the SEC terminated. Senators Kirsten Gillibrand (DNY) and Cynthia Lummis (RWY) introduced a bill in the 117th U.S. Congress to create a regulatory framework for cryptocurrencies that would treat most digital assets as commodities subject to oversight from the CFTC and would not have cryptocurrencies subject to oversight from the SEC unless a cryptocurrency's holders were entitled to the same privileges as corporate investors. [158] In a securities filing dated June 8 and disclosed to the Florida State Department Corporations Division, DWAC stated that Donald Trump and Donald Trump Jr. had been removed from the company board of directors. [7] Sam Gensler was a cigarette and pinball machine vendor to local bars,[8] and he provided Gensler with his first exposure to the real-world side of finance when Sam would take Gensler to the bars of Baltimore to count nickels from the vending machines. April 16, 2022. [250], Maryland Financial Consumer Protection Commission. [80] On February 11, the SEC met to discuss more than 50 proposed rules changes (focused primarily on hedge funds and private equity) including a requirement that the disclosure documents of stock corporations must include a written statement of company cybersecurity risk management policies and disclosure of any cyberattacks. By David Z. Morris. [70] Speaking at The Wall Street Journal CFO Network event on June 7, Gensler emphasized the need for new restrictions and rules to reduce the risk of improper insider trading. [5] He succeeded SEC Acting Chair, Allison Lee. Gary Gensler is a professor at the MIT Sloan School of Management, Co-Director of MIT's Fintech@CSAIL and Senior Advisor to the MIT Media Lab Digital Currency Initiative. [236], On July 18, Twitter submitted a filing with the court stating that Musk's request to deny a speedy trial was a tactical delay, that Musk's tactics were harming Twitter's reputation and share price, and urged the court to schedule the earliest possible trial date. We should regulate self-custody and DeFi out of existence. He was nominated by President Bill Clinton to be the Assistant Secretary of the Treasury for Financial Markets. [6], Gensler graduated from Pikesville High School in 1975,[9] where he was later given a Distinguished Alumnus award. Interestingly, Alameda Research CEO Caroline Ellison is the daughter of Glenn Ellison. [17], Gensler's last role at Goldman Sachs was co-head of finance, responsible for controllers and treasury worldwide. In fact, the SEC chair gave a course on 'Blockchain And Money', which explores potential use of blockchain technology. He was an undersecretary of domestic finance and assistant secretary of . [123][124], On May 25, the SEC proposed two rules changes to ESG investment fund qualifications to prevent greenwashing marketing practices and to increase disclosure requirements for achieving ESG impacts. [149][150] After the company renamed itself as Meta Platforms,[151] Whistleblower Aid filed two additional securities fraud complaints with the SEC against the company on behalf of Haugen in February 2022. [54][55][56] Following testimony before the U.S. House Appropriations Subcommittee on Financial Services and General Government on May 18, Gensler warned in a post-hearing press conference that many cryptocurrencies were going to fail and expressed concern that it could undermine confidence in the traditional financial markets. Here's how investors can buy a carbon-conscious fund", "Shares of Rocket Companies, a large short target of hedge funds, jump more than 70%", "Rocket Companies stock soars 70% on speculative trading, mirroring GameStop rally", "Rocket Stock Is the New Meme Trade. Does that violate his SEC accord? In 2018, student loan legislation recommended by the Commission established a student loan ombudsman, added the federal Military Lending Act and the federal Servicemembers Civil Relief Act to state law, increased civil monetary penalties for violations, and codified some modifications on debt collection laws. [18] Gensler left Goldman after 18 years[19] when he was nominated by President Bill Clinton and confirmed by the U.S. Senate to be the Assistant Secretary of the Treasury. [185][186] On February 21, Musk's attorneys filed a second letter with the court alleging the SEC had illegally leaked information from an investigation into him. I want to thank them for all of their support. [241][242] On July 25, Tesla disclosed in a filing with the SEC that the company had received a second subpoena from the agency on June 13 with respect to the 2018 settlement. [216] On May 17, Musk tweeted that the Twitter acquisition would not move forward until he had greater clarification about the ratio of fake and spam accounts on the site,[217] later tweeting a poll of his followers' opinions of Twitter, Inc. statements about the ratio of fake and spam accounts in filings to the SEC (and where Musk posted a comment in the poll thread calling upon the SEC to investigate whether the company's statements disclosing the ratio in filings to the agency are true). November 18th, 2021, 2:18 AM PST. Gary Gensler is the chair of the Securities and Exchange Commission in the Biden administration.The Senate confirmed him on April 20, 2021, by a vote of 54-45, for a term ending on June 5, 2026. Before joining the SEC, Gensler was professor of the Practice of Global Economics and Management at the MIT Sloan School of . Gensler is a runner and has finished nine marathons and one 50-mile ultramarathon. [252], Gensler lives in Baltimore with his three daughters, Anna, Lee and Isabel. Internet searches showed no immediate relationships between them and FTX. [222] On May 25, Twitter shareholders filed a class action lawsuit against Musk and Twitter, Inc. alleging market manipulation and violation of California corporate laws. [14], Then-President-elect Barack Obama announced his intent to nominate Gensler to serve as the 11th chairman of the CFTC on December 18, 2008. Aug 19, 2021 at 5:12 p.m. UTC Updated Sep 14, 2021 at 1:42 p.m. UTC. Gary Gensler blew it again. [218][219], On the same day, Twitter submitted a new filing with the SEC that stated that Musk had met with Twitter executives for three days before he announced his acquisition proposal. [33], In 2017, Gensler was selected by the Maryland Senate President and House Speaker to serve as Chairman of the Maryland Financial Consumer Protection Commission, which assessed the impact of potential changes to federal financial industry laws, regulations, budgets, and policies on the state. On King's Holiday, Daughter Calls . [157] On February 18, 2022, the U.S. 11th Circuit Court of Appeals ruled in a lawsuit against Bitconnect that the Securities Act of 1933 extends to targeted solicitation using social media. During his time at MIT, Gensler worked closely with Glenn Ellison. [15], While serving at the Treasury Department, Gensler was awarded the agency's highest honor, the Alexander Hamilton Award, for his service. SEC Chair Gensler Talks Registration of Security-Based Swap Execution Facilities. [43][44] On September 21, Gensler remarked to The Washington Post that most cryptocurrency projects dealing with securities should fall under the regulatory purview of the SEC, though the Commodity Futures Trading Commission (CFTC), of which he was a former chair, was better suited for some others. Since taking office in April 2021, Gensler has made the enforcement of regulations in the cryptocurrency . [129][130][131] On June 30, the Supreme Court ruled in West Virginia v. EPA (2022) that the U.S. Environmental Protection Agency did not have the authority under the Clean Air Act to devise a broad cap-and-trade system for carbon emissions by power plants that the agency attempted to promulgate under the Clean Power Plan and instead that the authority to do so rests with the U.S. Gary was a member of the Treasury Department's Advisory Committee on the Auditing Profession in 1998. [239][240] On July 22, Twitter released its earnings report for the second quarter of 2022 that showed a 1 percent decline in year-over-year company revenue and that company earnings were lower than analysts' expectations (which the company partially attributed to uncertainty created by the acquisition agreement). SEC chairman Gary Gensler has something that many in Washington often lack: knowledge of the technology he's trying to regulate. Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury for Financial Markets, Hillary Clinton 2016 presidential campaign, Assistant Secretary for Financial Markets, Dodd-Frank Wall Street Reform and Consumer Protection Act, Senate Banking, Housing and Urban Development Committee, Economic policy of the Joe Biden administration Cryptocurrency, U.S. Senate Banking, Housing, and Urban Affairs Committee, U.S. House Appropriations Subcommittee on Financial Services and General Government, Environmental, social, and corporate governance, Task Force on Climate Related Financial Disclosures, Public Company Accounting Oversight Board, Holding Foreign Companies Accountable Act, Southern Florida U.S. District Court Judge, Environmental policy of the Joe Biden administration, Google Ads Use by fossil fuel companies for greenwashing, Non-fungible token Environmental concerns, Western Louisiana U.S. District Court Judge, U.S. House Oversight and Reform Committee, Whistleblower protection in the United States, Attempts to overturn the 2020 United States presidential election, COVID-19 vaccine misinformation and hesitancy, Facebook content management controversies, U.S. Senate Commerce Subcommittee on Consumer Protection, Product Safety, and Data Security, Southern New York U.S. District Court Judge, Northern California U.S. District Court Judge, "MIT Sloan's Gary Gensler to be nominated for chair of Securities and Exchange Commission", "The Problem With Hillary Clinton Using a Progressive Hero to Attack Bernie Sanders", "President-elect Joe Biden to name Gary Gensler as U.S. SEC chair, sources say", "The Money Cop; Gary Gensler got his start on Wall Street. He and Francesca got married in 1986. Caroline Ellison is the daughter of Glenn Ellison, director of the MIT economics department and former colleague of Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), who is now investigating the FTX and Alameda scandal. Gensler is a runner and has finished nine marathons and one 50-mile ultramarathon. [192][193] On March 22, the SEC filed a response to Musk's March 8 filing requesting that Judge Nathan deny Musk's motion, that its subpoenas were lawful, and disclosed that the agency was investigating Musk for his November 2021 tweet. Featuring, in order of appearance: Gary Gensler Executive Produced by Jon Stewart, Brinda Adhikari, James Dixon, Chris McShane, and Richard Plepler. [121][122] On May 19, after Tesla was removed from the S&P 500 ESG Index by S&P Dow Jones Indices, Tesla CEO Elon Musk posted a tweet to his Twitter account criticizing the decision and, in noting that ExxonMobil was rated within the top 10 constituent companies in the index by weight, accused ESG of being a scam. Associated Items 5 items Date Program or Publication Format 11/4/2022 54th Annual Institute on Securities Regulation On-Demand 9/13/2022 The SEC Speaks in 2022 [113][114][115] On February 15, ConocoPhillips announced a pilot program to sell its flare gas to a company operating a bitcoin mine in the Bakken Formation region of North Dakota as part of an industry initiative to reduce routine flaring to zero by 2030. [36], In November 2020, Gensler was named a volunteer member of the Joe Biden presidential transition Agency Review Team to support transition efforts related to the Federal Reserve, Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Securities and Exchange Commission. [48][49][50] Gensler is opposed to approving pure play bitcoin ETFs due to bitcoin remaining subject to fraud and market manipulation. The New Howey Test. Gary Gensler was born in October 1957 in Baltimore, Maryland. Congress. Leather Bound. Gary Gensler December 15 2022 Financial & markets regulation US markets watchdog plans biggest overhaul of stock trading in nearly 20 years Proposals by Securities and Exchange Commission aim to. Join the most important conversation in crypto and Web3 taking place in Austin . [14] He spent the 1980s working as a top mergers and acquisitions banker, having assumed responsibility for Goldman's efforts in advising media companies. . He probably shouldn't have", "Elon Musk might be held in contempt of court over a Tesla tweet", "Elon Musk and SEC reach an agreement over tweeting", "US SEC commissioner decries agency's deal with Tesla's Musk", "Elon Musk claims Tesla solar production will jump. [52] On April 4, 2022, Gensler announced that the SEC would begin to register and regulate cryptocurrency exchanges at a University of Pennsylvania Law School students association conference. Exchange FTX the cryptocurrency filed for bankruptcy of Global Economics and Management at the MIT Sloan School of one... Security-Based Swap Execution Facilities [ 252 ], Gensler was professor of the Treasury in the Clinton administration, he! And argued that it should be replaced as a benchmark rate of Security-Based Swap Execution Facilities 2021, Gensler closely. 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