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Senate confirms Gensler as Biden's SEC chairman

Gary Gensler

(Reuters) — The U.S. Senate voted 53-45 on Wednesday to confirm former derivative markets regulator Gary Gensler as Securities and Exchange Commission chairman, spelling a tougher regulatory regime for Wall Street.

Mr. Gensler is expected to be sworn in as SEC chairman in coming days.

A former Goldman Sachs banker and a professor at MIT Sloan School of Management, Mr. Gensler most recently led President Joe Biden's transition plan for financial industry oversight and previously served under President Barack Obama as chair of the Commodity Futures Trading Commission.