The Senate on Wednesday confirmed Gary Gensler as chairman of the Securities and Exchange Commission in a 53-45 vote.
Mr. Gensler, who President Joe Biden nominated in January, is a former chairman of the Commodity Futures Trading Commission and more recently a professor at the MIT Sloan School of Management.
The Senate Banking Committee on March 10 approved Mr. Gensler' nomination in a 14-10 vote. During his March 2 hearing before the committee, Mr. Gensler said that the SEC should seek more climate-risk disclosure from companies and that the investor community "gets to decide what is material." He pledged to have the agency take the next steps to advance disclosure requirements for companies.
He also promised to examine whether there are issues related to the role of proxy adviser firms and potential conflicts of interest, and to crack down on insider trading.
Mr. Gensler has an extensive knowledge of digital assets. He has taught classes and testified before Congress on digital currencies and blockchain technology.
Following Mr. Biden's inauguration in January, SEC Commissioner Allison Herren Lee was named acting chairwoman of the regulatory agency.
Mr. Gensler's confirmation gives Democrats a 3-2 majority on the commission.