PANews reported on November 23 that according to The block, Jaime Lizárrag, one of the three Democratic commissioners of the U.S. SEC, plans to resign early next year. He has informed President Joe Biden of his plan to leave at the end of January. Jaime Lizárrag said he was leaving to spend more time with his family. Just one day before Lizárraga announced his resignation, U.S. SEC Chairman Gary Gensler said he planned to resign in January. This means that Commissioner Caroline Crenshaw will become the only Democrat to lead the U.S. Securities and Exchange Commission. Gensler said that he and Lizárraga not only worked together at the U.S. Securities and Exchange Commission, but also at the U.S. Treasury Department after the 2008 financial crisis.