January 22, 2021 

President Joseph Biden appointed Allison Herren Lee as Acting Chair of the Securities and Exchange Commission, effective immediately.

Her tenure will end in 2022. Acting Chair Lee, who was sworn in as a Commissioner 2019, replaced Elad R. Roisman who was designated acting chair on December 28, after Jay Clayton departed the agency.

Lee has been at the agency for over a decade in various roles, including as counsel to Commissioner Kara Stein and as Senior Counsel in the Division of Enforcement’s Complex Financial Instruments Unit.

Roisman has returned to his role as a Commissioner at the agency.