Michael Piwowar, a commissioner of the U.S. Securities and Exchange Commission (SEC),is stepping down from the agency, he announced on Monday.
Piwowar, who served as acting chairman of the SEC in the immediate aftermath of the election of Donald Trump as U.S. president, was originally appointed to the SEC by former president Barack Obama in 2013.
His term as a commissioner officially ends on June 5. And, in a letter today, he said that he will leave the commission on July 7, or sooner, if a replacement is named in the meantime.
“Over the next two months, I will continue to work steadfastly with my fellow commissioners and SEC staff to advance our important mission of protecting investors, maintaining fair, orderly, and efficient markets, and promoting capital formation,” Piwowar said in a statement accompanying his resignation letter.