Roisman Named Acting SEC Chairman, Peirce Tweets

Elad Roisman has been named acting chairman of the U.S. Securities and Exchange Commission, according to a tweet by Commissioner Hester Peirce congratulating him.

• The news comes a day after former Chairman Jay Clayton announced that yesterday was his last day. Clayton had previously said he would step down by the end of the year.
• Roisman was appointed by President Trump as an SEC commissioner two years ago.
• Perceived as friendly to cryptocurrencies in general, Roisman had served as chief counsel for NYSE Euronext, which was eventually sold to the Intercontinental Exchange (ICE), parent company of the Bakkt futures exchange.
• At the time of his appointment to the SEC, Roisman said to the Senate Committee on Banking, Housing, and Urban Affairs that "the SEC must examine and re-examine its rules, regulations and guidelines to ensure that they are still working as intended to accomplish the SEC's mission. This is most recently manifested in areas such as data protection and cybersecurity, as well the emergence of new investments and technologies such as initial coin offerings and blockchain."
• The U.S. Senate must now confirm the nomination.

The story is developing and will be updated.