According to the commission, James David Burleson’s scheme caused over $3 million in losses for his clients and a 26.5% positive return for himself. The SEC argues the probability that divergence occurred by chance was “less than one in a million.”
The Financial Industry Regulatory Authority must let the US Securities and Exchange Commission weigh in before it can cast out one of its members, a three-judge panel of the US Court of Appeals for the District of Columbia found.
Gensler’s term was set to expire in 2026, but he announced today that he will leave on Jan. 20, 2025. He called working with the commission’s staff “an honor of a lifetime.”
