Interm SEC Chair Mark Uyeda Anticipates Less Active Rulemaking: We Want To Be 'Very Methodical'

Interim SEC Chair Mark Uyeda replaced Biden-era appointee Gary Gensler as the highest-ranking official at the agency following Donald Trump‘s inauguration. Uyeda signaled his intent to change key aspects of the commission on Thursday.

What Happened: Uyeda appeared at the Wall Street Journal's CFO Network Summit in New York on Thursday, according to Bloomberg.

Uyeda, a Biden appointee also, called the regulatory agency’s actions under Gensler as an “overly ambitious” change in direction in a short period.

“We may need to make course corrections, but you want to be very methodical, very thoughtful in how you change direction," the Georgetown alum said.

Why it Matters: Gensler’s tenure as SEC chair was marked by required climate risk disclosures and crackdowns on cryptocurrency.

Uyeda has already reversed course on many of Gensler’s actions during his slightly abridged tenure. The SEC dropped crypto-related lawsuits and created a crypto task force in January. Meanwhile, Uyeda has also instructed regulators to pause rules governing climate disclosures, according to the New York Times.

Beyond policy shifts, Uyeda’s tenure is also being shaped by significant organizational changes within the SEC. Staffing cuts at the agency, led by Elon Musk‘s Department of Governmental Efficiency (aka DOGE), could leave the commission less able to enforce securities laws. Musk was the subject of an SEC lawsuit during the Biden administration concerning his buyout of Twitter, which is now called X.

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