Joe Biden names US SEC Commissioner Herren Lee acting head of regulator

WASHINGTON - U.S. President Joe Biden has named U.S. Securities and Exchange Commission Commissioner Allison Herren Lee, a Democrat, as acting chief of the financial industry regulator, the SEC said in a statement.

"During my time as Commissioner, I have focused on climate and sustainability, and those issues will continue to be a priority for me," Herren Lee said in a statement released on Thursday.

Sources have said former Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler, who led Biden's transition planning for financial industry oversight, would be named as head of the SEC.