BIDEN POISED TO PICK EX-CFTC CHIEF GENSLER TO LEAD SEC

Gary Gensler, a former head of the U.S.'s main derivatives regulator, is President-elect Joe Biden's likely pick to lead the Securities and Exchange Commission, according to two people familiar with the matter. If nominated by Biden to be SEC chairman and confirmed by the Senate, Gensler, pictured, would be the new government's front-line regulator for Wall Street and the arbiter of what public companies must disclose to their investors. Democratic lawmakers would expect Gensler to undo policies put in place during the Trump administration, including reversing rollbacks of post-crisis rules and toughening a recently approved standard for stock-broker conduct that progressives blasted as too weak. Gensler was chair of the Commodity Futures Trading Commission (CFTC) from 2009 to 2014.