SEC Enforcement Switch Up Confirmed!

( The Securities and Exchange Commission, which is the federal agency responsible for enforcing law relating to market manipulation, just announced that Democratic New Jersey Attorney General Gurbir Grewal will be its next director.

Gary Gensley, the chairman of the SEC, said that they were “honored and delighted” to have Grewal on board.

Grewal became the first-ever Sikh to hold the position of New Jersey’s attorney general when he was appointed in 2018. He has a “distinguished career” as the head law enforcement officer in New Jersey, according to the statement, and will bring the perfect combination of “experience, values, and leadership.”

Sure. Just what we need. Another Democrat with power.

Grewal was President Joe Biden’s second pick to take over the role after Alex Oh stepped down just days after being appointed for “personal reasons.”

In a statement, Grewal said that he was “excited” to get to work with a talented team of public servants to “protect investors” and “prosecute misconduct.”

Grewal’s appointment comes as the SEC’s climate disclosure plans – which will require corporations to reveal huge amounts of information about risks to the climate caused by their business operations – risk a wave of lawsuits.

Top officials within the SEC are working to force businesses to publish annual or quarterly reports from their businesses, and make them pay hefty fines if they don’t. The plans will require businesses to hire new experts to oversee their companies’ environmental impact, and to report on the impact that they are having.