Gary Gensler, the new S.E.C. chairman, wants to improve corporate disclosure and regulate digital assets better. But a lot awaits him already.
Wall Street’s new watchdog, Gary Gensler, is coming to the job with an ambitious agenda that includes taking a hard look at how to regulate digital currencies and requiring more environmental disclosures of companies. But the market may already be dictating some of the agenda for Mr. Gensler.
A former banker and regulator, Mr. Gensler, 63, was confirmed to lead the Securities and Exchange Commission last Wednesday, and took office on Saturday. One of the first things he will probably have to weigh in on as chairman is whether to assert more control over the red-hot market for special purpose acquisition companies, or SPACs, those speculative businesses that have raised well over $100 billion from investors.