One of the three Democratic commissioners of the U.S. SEC, Jaime Lizárraga, plans to resign early next year

ChainCatcher news, according to The Block, Jaime Lizárraga, one of the three Democratic commissioners of the U.S. Securities and Exchange Commission (SEC), stated that he has informed President Joe Biden of his plans to resign and intends to leave the agency early next year. Lizárraga mentioned that he is stepping down to spend more time with his family.

The day before Lizárraga announced his resignation, SEC Chairman Gary Gensler also planned to step down in January. This means that Commissioner Caroline Crenshaw will become the only Democrat leading the SEC. Gensler noted that he and Lizárraga not only worked together at the SEC but also collaborated at the U.S. Treasury after the 2008 financial crisis.