One of the three Democratic commissioners of the U.S. SEC, Jaime Lizárraga, plans to resign early next year.

According to TechFlow news on November 23, as reported by The Block, Jaime Lizárraga, 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 Lizárraga stated that his resignation is to spend more time with his family. Just a day before Lizárraga announced his resignation, SEC Chair Gary Gensler indicated plans to resign in January. This means that Commissioner Caroline Crenshaw will become the only Democratic leader of the U.S. Securities and Exchange Commission.