What You Need to Know
- UPDATE: The Senate has moved Walsh's vote to Monday, along with Gensler's consideration.
- Gensler, a former CFTC chairman, is a professor of blockchain and digital currency at MIT.
- Labor allowed the Trump DOL fiduciary rule to take effect but is abandoning two ESG rules.
The Senate is scheduled to vote Thursday on the nominations of Marty Walsh to serve as Labor secretary and Gary Gensler to serve as chairman of the Securities and Exchange Commission.
The U.S. Senate Health Education Labor and Pensions Committee voted 18-4 on Feb. 11 to advance Walsh’s nomination to the full Senate.
The Senate Banking Committee voted 14-10 on March 10 to advance Gensler’s nomination to the full Senate.
During his nomination hearing on March 2 before the committee, Gensler laid out the steps he’d consider to address the recent market volatility related to the GameStop trading frenzy, as well as his approach to regulating cryptocurrencies.
In a surprise move, Labor allowed the Trump administration’s fiduciary prohibited transaction exemption to go into effect on Feb. 16.