SEC Commissioner Robert Jackson, a Democrat, said Thursday that he will depart from the agency on Feb. 14 and return to teaching at New York University School of Law, where he’s currently on faculty leave.
“Serving on the Commission has been the privilege of my lifetime,” Jackson said in his statement. “I will always be proud to have served alongside my fellow commissioners, Chairman [Jay] Clayton, and especially the commission’s staff, who dedicate their careers to protecting ordinary investors — and give hardworking American families the chance to build a better future.”
The White House is expected to nominate Caroline Crenshaw, an attorney at the SEC, to fill Jackson’s seat this year, according to Reuters. Crenshaw currently works as an attorney in Jackson’s office. Senate Democratic leader Chuck Schumer has sent Crenshaw’s name to the White House as a nominee for the post, Reuters reported.
The White House has yet to formally announce Crenshaw’s nomination.
Jackson’s term expired in 2019, but commissioners can stay on up to 18 months after their term expires or they are replaced. The term of Commissioner Hester Peirce, a Republican, expires in 2020. The commission has two seats for Democrats and two for Republicans, plus the chairman.