The SEC announced that Chair Gary Gensler will step down on January 20. His departure will leave the SEC in the hands of an acting chair, who is expected to be either Commissioner Mark Uyeda or Commissioner Hester Peirce. Rep. Mike Flood (R-NE) tweeted about the announcement, stating that Chair Gensler is leaving “a legacy of overreach and chaos.” President-elect Trump has yet to name his pick to succeed Gensler.