According to Fox Business reporter Charles Gasparino, Robert Stebbins, a partner at Wilkie Farr & Gallagher, is “gaining steam” as one of the contenders in the race to replace U.S. Securities and Exchange Commission Chair Gary Gensler.
Stebbins served as the SEC’s general under former boss Jay Clayton over the period from May 2017 to December 2020.
“Keep an eye on this name,” Gasparino said in his recent post on the X social media platform.
As reported by U.Today, former CFTC head Chris Giancarlo refuted rumors about potentially spearheading the SEC.
Dan Gallagher, Robinhood’s chief legal officer, has long been rumored to be the top contender to take the reins of the agency.
According to various media reports, there are also some other names that are currently in the mix. These include Paul Atkins of Patomak Global Partners, Richard Farley of Kramer Levin Naftalis & Frankel, Norm Champare of Kirkland & Ellis, and current SEC Commissioner Mark Uyeda.
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Meanwhile, the cryptocurrency community is currently awash with speculation about Gensler’s seemingly imminent resignation. His recent remarks appear to suggest that the SEC boss might part ways with the agency in the near future.
The cryptocurrency community is, of course, waiting for Gensler’s departure with bated breath since there is a very strong possibility of a much friendlier regulatory regime. As reported by U.Today, former SEC official John Reed Stark expects the SEC to drop all non-fraud cryptocurrency cases after the changing of the guard.