After announcing her intention to leave in March, SEC Commissioner Allison Herren Lee resigned. One seat remains open at the Commission after this exit. Allison Herren Lee has resigned today as a commissioner of the Securities and Exchange Commission.
Lee declared her intention to leave in March with plans for a visit to Italy. According to the New York Times, she had delayed her chance to sit on the Commission in 2019.
Following Republican Elad Roliman’s January resignation , the Democrat’s departure follows. That seat was filled by Mark T. Uyeda (a Republican) at the end June. The Biden Administration will now have another seat available after Lee’s resignation.
Lee began her career at the Commission as a staff lawyer in the Enforcement Division’s Denver Regional Office in 2005. From 2005 to 2019, she was also the counsel for Commissioner Kara Stein. In 2019 she was elected as her own acting head.
As its interim leader, her time at the Commission was marked by her efforts to bring climate-related disclosures and investor issues to the forefront. She has voiced doubts about the cryptocurrency market in public remarks. Most recently, she stated this in March address, where she said that digital assets often defy existing laws.
“Allison was a strong advocate for stable markets, and she also stressed the need for market participants maintain the highest ethical standards,” stated a statement by her fellow commissioners. She has championed stronger climate disclosures, whistleblower protections and individual accountability for securities law violations.