A Bill to Fire Gary Gensler is Submitted to US Congress
Reading Time: < 1 minute
House Republican Majority Leader Tom Emmer and Congressman Warren Davidson have introduced a bill entitled the “SEC Stabilization Act” aimed at firing SEC head Gary Gensler and revamping the agency.
According to Emmer, the current structure of the SEC provides Gensler with too much “freedom of action” and reduces the power of the other four commissioners, leaving their positions virtually redundant.
The proposed bill would introduce a new sixth commissioner to the Commission and establish an executive director to manage the SEC’s daily activities.
Emmer has suggested these changes, saying they would prioritize “investors they are designed to protect” rather than Gensler’s “reckless chairman.”
Follow and like us on
