By Katanga Johnson
WASHINGTON (Reuters) -U.S. Securities and Exchange Commission (SEC) Democratic Commissioner Allison Lee plans to leave the agency after her term ends in June, the agency said in a statement.
“My term as Commissioner expires in June of this year, and I have notified President Biden that I intend to step down from the Commission once my successor has been confirmed,” Lee said on Tuesday.
Lee’s departure would come as the agency tackles an ambitious agenda of rule changes that would affect public companies, brokers, Wall Street banks and investment funds.
The SEC would still maintain a thin 2-1 Democratic majority, however, as it continues to await a replacement of one empty Republican seat vacated by former Commissioner Elad Roisman in January.
A commissioner since 2019, Lee had previously spent several years in senior roles at the SEC from 2005 to 2018, including time as an enforcement attorney.
In July 2019, she served as Acting Chair of the agency until Gary Gensler was sworn in as chief of the Wall Street regulator in April 2021.
(Reporting by Katanga Johnson in Washington; Editing by Andrew Heavens and Mark Porter)
