President Trump appoints Mark Uyeda acting SEC chair

According to a memo from the White House Monday afternoon, President Donald Trump has tapped GOP Commissioner Mark Uyeda to lead the Securities and Exchange Commission as acting chair.

The appointment follows Trump’s official swearing-in ceremony on Monday morning. 

Uyeda, who is currently serving his second of a five-year term at the SEC, will serve as the interim head of Wall Street’s top cop while Trump’s pick for permanent chair, Paul Atkins, waits to be confirmed by the Senate, a process that could take several months.

FOX Business previously reported that Uyeda was likely to receive the acting chairmanship since his fellow GOP Commissioner Hester Peirce had privately expressed that she was not interested in the role, preferring instead to lead what will be the agency’s new approach to regulating the $3.5 trillion cryptocurrency industry, according to sources familiar with the matter.

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