Trump Appoints Mark Uyeda as Acting SEC Chair, Signaling Policy Shift

WASHINGTON, D.C. — Newly sworn-in President Donald Trump has appointed Mark Uyeda, a Republican member of the U.S. Securities and Exchange Commission (SEC), as the agency’s acting chair, the White House announced Monday. Uyeda replaces Gary Gensler, whose tenure under President Joe Biden was marked by aggressive rulemaking and clashes with Wall Street and the cryptocurrency industry.

Uyeda, who has served as an SEC commissioner since June 2022, is expected to initiate a policy overhaul, particularly in cryptocurrency regulation, as early as this week. Trump has also signaled his intent to nominate former SEC Commissioner Paul Atkins for the permanent chair position. Atkins, a veteran of the agency, previously mentored both Uyeda and current SEC member Hester Peirce.

Gensler, who stepped down Monday, implemented dozens of rules aimed at increasing transparency, reducing risks, and addressing conflicts of interest in financial markets. His enforcement actions included lawsuits against several cryptocurrency firms accused of violating SEC regulations. Uyeda has been critical of Gensler’s approach, advocating for a regulatory agenda that prioritizes capital formation and innovation while protecting investors from fraud.

“The pending administration change will give the SEC a chance to reset its regulatory agenda to focus on capital formation and innovation, while protecting investors, like seniors, from scam artists defrauding them,” Uyeda told Reuters in a November interview.

Uyeda could not be reached for immediate comment following his appointment. His leadership is expected to mark a significant shift in the SEC’s priorities, with a focus on easing regulatory burdens and fostering market growth.

Meanwhile, in a separate development, KBW CEO Tom Michaud has emerged as a potential candidate to chair the Federal Deposit Insurance Corp. (FDIC), according to sources familiar with the transition process. Current FDIC Vice Chair Travis Hill is also under consideration for the role.