![]() More than 75% of the companies do not meet that threshold. The Nasdaq, a leading Wall Street exchange operator, asked the SEC in December if it could require the nearly 3,200 companies on its exchange to have at least one woman and one “underrepresented minority” on their boards of directors, CNBC reported. (RELATED: ‘Not Grounded In Science’: GOP Senators Warn Federal Reserve Against Promoting Environmental Policies) The SEC is currently reviewing rules that would mandate companies to disclose diversity statistics and details on how they are combatting climate change. Pat Toomey walks through the Senate subway in February. “Based on his record and statements during the nomination process, I’m concerned he will cause the SEC to use its regulatory powers to advance a liberal social agenda focused on issues such as global warming, political spending disclosures, and racial inequality and diversity,” Senate Banking Committee Ranking Member Pat Toomey said Tuesday. (RELATED: Activist Who Touted Cash, Land Payments In Reparation For Slavery Set To Testify At Democrats’ Racial Wealth Gap Hearing) Republicans also worried Gensler would use the SEC to force private sectors to comply with social justice mandates. economic recovery from the coronavirus pandemic would be stymied by unnecessary and burdensome regulation. Senate Republicans opposed Gensler’s, arguing that he had a penchant for over regulating when he led the CFTC. Gary Gensler speaks as former Federal Reserve Board chairman Ben Bernanke listens during a 2013 meeting at the Treasury Department in Washington, D.C. (RELATED: GOP Senate Leaders Criticize Biden Administration For Prioritizing Social Justice Ahead Of American Workers)Īs CFTC chair, Gensler was tough on enforcement issues and helped bring transparency to the market by implementing safeguards in the Dodd-Frank Wall Street Reform and Consumer Protection Act, Brown said Tuesday. Gensler previously worked for Goldman Sachs as a partner and the Treasury Department in several positions. Elizabeth Warren, was known for aggressively regulating Wall Street when he led the CFTC from 2009 to 2014, Axios reported. Gensler, who is an ally to Democratic Massachusetts Sen. “And he will lead the SEC at a time when it’s become more and more obvious to most people that the stock market is detached from the reality of working families’ lives.” Gensler is an experienced public servant with a strong record of holding Wall Street accountable,” Senate Banking Committee Chairman Sherrod Brown said during his floor speech supporting Gensler’s nomination Tuesday. Gensler’s confirmation gives Democrats a 3-2 majority on the SEC’s board of commissioners and enables them to implement a variety of progressive financial regulations. The Senate voted 53-45 in favor of confirming Gary Gensler, a former Goldman Sachs executive and Commodity Futures Trading Commission (CFTC) chairman, to head the Securities and Exchange Commission (SEC) on Wednesday afternoon. Elizabeth Warren, to lead the Securities and Exchange Commission, the top Wall Street regulatory agency. The Senate confirmed Gary Gensler, a progressive ally of Sen. Senate Republicans opposed Gensler’s, arguing that he had a penchant for over regulating when he led the Commodity Futures Trading Commission during the Obama administration.Gensler is an experienced public servant with a strong record of holding Wall Street accountable,” Senate Banking Committee Chairman Sherrod Brown said Tuesday. The Senate confirmed Gary Gensler, a progressive ally of Sen.
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