After Trump returns to the White House, only one Democrat may remain on the five-member SEC committee

According to Bloomberg, SEC Commissioner Jaime Lizarraga, who once served as a congressional aide and helped promote corporate reporting requirements on climate risks and data breaches while regulating Wall Street, intends to resign on January 17. The day before Lizarraga announced the decision, SEC Chairman Gary Gensler said he planned to leave on January 20. Bloomberg said that after President-elect Donald Trump returns to the White House, Caroline Crenshaw will become the only Democrat on the SEC's five-member committee, serving with Republicans Hester Peirce and Mark Uyeda. Note: The U.S. Securities and Exchange Commission (SEC) has five commissioners (core decision-making layer) because the president appoints commissioners with the consent of the Senate, and no more than three members of the same political party can be from the same party. The setting of five commissioners is intended to balance the demands of different stakeholders, including investors, issuers, exchanges, etc. With a smaller committee, decision-making efficiency can be improved and lengthy discussions can be avoided.