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Biden names acting chair of SEC

The decision is just one of a vast number of sweeping declarations made by the President on his inaugural day in office

The newly elected President, Joe Biden, has appointed Allison Herren Lee as acting chair of the Securities and Exchange Commission (SEC).

Lee was sworn in as commissioner at the body on 8 July 2019, where she received unanimous approval by the Senate.

She has also served on the staff at SEC for over a decade in a number of different positions, including as counsel to commissioner Kara Stein and senior counsel in the Division of Enforcement’s Complex Financial Instruments Unit.

Lee claimed that it is an “honor” for her to be able to continue her work with SEC in the new role.

She said: “I have tremendous respect for my colleagues on the commission and the exceptional staff across the agency, and look forward to working closely with them. Together we will continue the agency’s work of protecting investors and ensuring market integrity.”

Her appointment came during Biden’s 24 hours as President, and is just one of a number of actions carried out by the Democrat in his first day in office.

Elsewhere, Biden matched Lee’s sustainability goals by signing sweeping declarations to combat climate change that included the US’ rejoining of the Paris Agreement.

Lee added: “During my time as commissioner, I have focused on climate and sustainability, and those issues will continue to be a priority for me.”

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