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Trump hints at appointing SEC chairman through "recess appointment" to bypass confirmation process.

Trump hints at appointing SEC chairman through "recess appointment" to bypass confirmation process.

Bitget2024/11/13 09:04

On November 13, Trump hinted that he would bypass the Senate's nomination confirmation process to appoint his government members, which seems to also include replacing SEC Chairman Gary Gensler. Recently, Trump stated that only he has the right to choose which U.S. Senator will serve as the Senate Majority Leader starting from when the new Congress is sworn in January 2025. He hopes that potential majority leaders agree to suspend nominations in order to bypass confirmation procedures and allow officials to "immediately" assume authoritative positions rather than accepting according to the U.S. Constitution, where a president "has power by granting commissions during recesses of the Senate, filling all vacancies that may happen during their recess; these commissions shall expire at end of their next session." During his first term, this power allowed Trump to appoint individuals who might not have been approved by the Senate. Recess appointments are intended for temporary use and do not replace approval from the Senate. President Biden nominated Gensler as an SEC commissioner in 2021 and was approved by a vote of 54-45 with a term until June 2026. In Trump's first term, he followed constitutional procedures for nominating SEC commissioners but also tried bypassing Republican-controlled senate during recesses for Attorney General appointments. It remains unclear whether any nominee proposed by Trump for chairman of SEC could garner enough votes through senate confirmation or if he intends on formally nominating anyone at all relying solely on recess appointments instead. As of writing this article, no possible successors for Gensler have been publicly nominated by Trump yet (Cointelegraph).

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