A spokesman for the Biden transition group declined to comment. The Wall Street Journal has previously reported on Gensler’s involvement.
The sources said they also expect Don Graves, who recently worked for Cleveland-based KeyBank, to focus on financial policy. Graves, who has been announced as a member of Biden’s transition group, has served in Biden’s vice presidential office and in the Treasury Department. Graves was KeyBank’s head of corporate responsibility and community relations until September.
At the CFTC, Gensler spearheaded an effort to impose sweeping new rules for trading financial derivatives known as swaps, which were virtually unregulated before they helped fuel the crisis. Wall Street in 2008.
He left the agency as one of the most fruitful regulators following the financial crisis, who led the CFTC through an extensive power expansion and a massive overhaul of the government̵7;s way. monitor derivative markets.