SEC Chairperson Gary Gensler announced that he will step down on January 20. Gary Gensler said: "The SEC is an amazing institution. Both its staff and its committee are mission-oriented and focused on protecting investors, promoting capital formation, and ensuring markets work for investors and issuers. Its staff are true public servants and it has been the privilege of my life to serve ordinary Americans and ensure our capital markets remain a world leader. I thank President Biden for entrusting me with this great responsibility. The SEC has fulfilled our mission and has carried out the law without fear".