Republicans introduce bill to remove SEC Chain Gary Gensler

Republican Reps. Warren Davidson of Ohio and Tom Emmer of Minnesota have introduced the SEC Stabilization Act, which would remove SEC Chairman Gary Gensler from his post and restructure the commission. According to the article, the bill would redistribute power from the chair to other commissioners, add a sixth commissioner, create an executive director position, and prevent any political party from controlling more than three seats. The lawmakers cite what they call Gensler's "long series of abuses" under the current structure. The article also notes that Gensler was chief financial officer of Hillary Clinton's 2016 presidential campaign, and that he said he was not aware of the campaign's payment for the Steele dossier when questioned by Rep. Byron Donalds. The SEC declined to comment on the bill.