U.S. Rep. Mike Flood representing Nebraska's 1st Congressional District | Official U.S. House headshot
U.S. Rep. Mike Flood representing Nebraska's 1st Congressional District | Official U.S. House headshot
U.S. Congressman Mike Flood has responded to the recent announcement by Securities and Exchange Commission (SEC) Chair Gary Gensler regarding his resignation effective January 20, 2025. Congressman Flood expressed relief at Gensler's decision to step down.
"Chair Gensler’s decision to step down in January comes none too soon. When he leaves the SEC, he will leave a legacy of overreach and chaos," stated Flood. He criticized Gensler's tenure, accusing him of promoting environmental, social, and governance (ESG) principles among investors and stifling emerging cryptocurrency markets.
Flood also pointed out Gensler's lack of cooperation with Congress on creating a framework for digital assets. "The world looks to the United States for clarity and stability in financial markets, and Chair Gensler has delivered neither," he remarked.
The congressman expressed anticipation about President Donald Trump's forthcoming nomination for the SEC chair position. He emphasized his readiness to work with the administration to rebuild trust in the SEC: "I look forward to seeing whom President Donald Trump nominates and will collaborate with his administration to help restore trust in the SEC."
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