A onetime SEC chief is about to leave the regulatory agency a little more than three years after he rejoined it.

Elad L. Roisman U.S. Securities and Exchange Commission Exiting Commissioner

Yesterday, Elad Roisman confirmed that he sent his resignation letter to U.S. President Joe Biden. Roisman is one of two Republican commissioners out of the Securities and Exchange Commission's (SEC's) five commissioners. Roisman states that he plans to leave at the end of next month.

"It has been the utmost honor to work alongside my extraordinary SEC colleagues, who care deeply about investors and our markets," Roisman states.

"I'd like to thank Commissioner Roisman for his dedicated service to the Commission and to the American public, both as a Commissioner and as Acting Chairman," states SEC chair Gary Gensler. "While we didn't always agree on policy matters, I've come to rely on his judgement and expertise, and I have enjoyed a positive working relationship with him."

Biden's predecessor, President Donald Trump, nominated Roisman as an SEC commissioner in June 2018, and Roisman took office in September 2018 after being confirmed by the U.S. Senate. Then, in December 2020, Trump promoted Roisman to acting chairman of the SEC for the final month of the administration. When Biden took over in January 2021, Roisman stepped back to being a regular commissioner, and soon Biden picked Gensler to take over.

Before returning to the SEC in 2018, Roisman spent four years on Capitol Hill, as securities and senior counsel to the U.S. Senate Committee on Banking, Housing and Urban Affairs and then as chief counsel to the same committee. Earlier, he served as counsel to an SEC commissioner. Before that, he served as chief counsel at NYSE Euronext and he worked at Milbank, Tweed, Hadley and McCloy LLP. He is an alumnus of Boston University's School of Law and of Cornell University.

"Serving the American people as a Commissioner and an Acting Chairman of this agency has been the greatest privilege of my professional life," Roisman states. 

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