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Preet Bharara Is a Candidate to Run SEC, Putting Bankers on Edge

  • Executives, lobbyists also worried Gary Gensler might get job
  • They’re concerned Biden will install tough watchdog at agency
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Joe Biden’s presidential transition has barely started but already banks and investment firms are anxious about two names they fear are in the running to lead the U.S. Securities and Exchange Commission.

The uneasiness started late last week, when news broke that Gary Gensler -- a scourge of Wall Street when he led the Commodity Futures Trading Commission -- had been tapped to examine financial regulators for the president-elect. That fueled concerns that Gensler himself might be in line for the top job at the SEC or another agency he’s reviewing.