Joe Biden names US SEC Commissioner Herren Lee acting head of regulator

Former Commodity Futures Trading Commission Chairman Gary Gensler, who led Biden's transition planning for financial industry oversight, would be named as head of the SEC, sources said.

U.S. President Joe Biden has named U.S. Securities and Exchange Commission Commissioner Allison Herren Lee, a Democrat, as acting chief of the financial industry regulator, the SEC said in a statement on Friday.

U.S. President Joe Biden speaks about his administration's plans to fight the coronavirus disease (COVID-19) pandemic during a COVID-19 response event at the White House in Washington, U.S., January 21, 2021. REUTERS/Jonathan Ernst (REUTERS)

"During my time as Commissioner, I have focused on climate and sustainability, and those issues will continue to be a priority for me," Herren Lee said.

Sources have said former Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler, who led Biden's transition planning for financial industry oversight, would be named as head of the SEC.