Republicans on congressional committees are probing Gary Gensler and the Securities Trade Fee (SEC) for allegedly hiring the SEC’s Director of Trading and Markets based mostly on their left-wing political ideology, alleging violations of the Civil Service Reform Act of 1978.
The letter alleges that Gensler might have been influenced by the “political affiliation” of Dr. Haoxiang Zhu when hiring him.
They spotlight an electronic mail Dr. Zhu despatched after he known as Gensler to debate his employment. It claims Dr. Zhu affirmed “his ideological suitability” when he despatched this electronic mail, “I believe I’m in the right place on the political spectrum, and I’m happy [to] provide as many details as needed so you feel comfortable.”
Dr. Zhu was employed six months later, on November 19, 2021. The letter claims that the SEC “unlawfully” thought of a bureaucrat applicant based mostly on their political ideology, violating its personal impartiality and the Civil Service Reform Act.
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It additionally claims that the SEC has a historical past of “hiring of individuals from left-leaning organizations to fill senior roles,” to be able to again up its argument.
The letter, dated September 10, was collectively signed by the Judiciary, Monetary Providers, and Oversight and Accountability committee chairmen Jim Jordan, Patrick McHenry, and James Comer respectively. These three are all Republicans.
The SEC has been requested to offer paperwork and communications from April 17, 2021, and has been given a September 24, 2024 deadline.
It ought to cowl, “the SEC’s decisions to hire, employ, terminate, or transfer any director or associate director of an SEC Division or Office, or a staff member in the Chair’s office,” and, “the SEC’s consideration or evaluation of the political affiliations or political ideology of an applicant for employment with the SEC, including but not limited to Dr. Zhu.”
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