Gensler Confirmation Nowhere in Sight as GameStop Tests SEC Role

The GameStop frenzy roiling Wall Street has caught the Securities and Exchange Commission operating under temporary leadership, and the Senate has yet to schedule a hearing for President Joe Biden’s pick for the agency, Gary Gensler.

Gensler’s eventual confirmation is a virtual certainty, but it could take weeks or months for the Senate to approve him, as the chamber is focusing first on Biden’s cabinet-level nominations, as well as virus relief and former President Donald Trump’s impeachment trial.

Gary Gensler

Photographer: Andrew Harrer/Bloomberg

Gensler has a reputation as a tough regulator, and he’s supported by incoming Banking Chair Sherrod Brown. ...