Richard Farley, a Wall Street Lawyer, Is Said to Be in the Mix to Lead the S.E.C.

Mr. Farley, a partner at the New York law firm Kramer Levin Naftalis & Frankel, has experience representing major financial institutions, including Goldman Sachs, Credit Suisse and UBS.

Richard Farley, a Wall Street lawyer with experience representing major financial institutions, is reportedly being considered to lead the Securities and Exchange Commission (SEC) in the upcoming Trump administration.

Farley, a partner at the New York law firm Kramer Levin Naftalis & Frankel, has worked on leveraged finance transactions for Goldman Sachs, Credit Suisse, and UBS, among others, according to sources familiar with the matter. He is also the co-head of Kramer Levin’s Leveraged Finance Group, which advises on a range of matters relating to private credit firms.

In 2017, Farley acted for Cantor Fitzgerald in a share sale by Sorrento Therapeutics, a cancer drug developer. Cantor’s CEO, Howard Lutnick, is a key member of Trump’s transition team for personnel, which could help Farley's chances of being appointed as SEC chair.

Farley has earned his place in Wall Street mainly due to his expertise and experience in financing related activities especially those involving banks and other financial institutions.

Apart from his professional achievements, Farley also boasts of personal connections within the Republican party. His wife, Chivacci “Chele” Farley, has been the GOP finance chairman for New York City and has also attempted to run for political office as a Republican. Farley, who was once registered in the Democratic Party, has reportedly shifted his support to the GOP in recent years. He is also a longtime friend of Robert F. Kennedy Jr., a Trump supporter who recently expressed his interest in serving in the new administration’s cabinet.

The Trump team is reportedly looking to replace current SEC Chair Gary Gensler, who has come under fire from some in the financial industry. Gensler, who was appointed by President Obama in 2021, has one and a half years remaining in his term, which is currently scheduled to conclude in June 2026.

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