AppointmentFeb 8, 2023 · appointed by the president · after Ron Klain left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
White House COVID-19 Response Coordinator from 2021 to 2022. USA Today reported that his first day was the morning after the State of the Union address of February 7, 2023.
Jeff Zients, 2023 · Executive Office of the President of the United States · Public domain · Wikimedia Commons
Ron KlainJan 20, 2021 — Feb 8, 2023appointed
AppointmentJan 20, 2021 · appointed by the president · from the start of the term
ResignationFeb 8, 2023 · Klain said it was "the right time for this team to have fresh leadership", Al Jazeera reported. Biden announced the change on January 27, 2023.
AppointmentJan 20, 2021 · appointed by the president · from the start of the term
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Named by the Biden transition on December 22, 2020. AP reported in 2024 that his formal title was Assistant to the President and Deputy Chief of Staff. A White House pool report of January 16, 2025 lists him with that title.
AppointmentJan 20, 2021 · appointed by the president · from the start of the term
ResignationJul 2022 · A White House official said that in the short term she planned to spend more time with her husband and toddler son, NPR reported.
Ben LaBolt, 2024 · The White House · Public domain · Wikimedia Commons
Kate BedingfieldJan 20, 2021 — Feb 2023appointed
AppointmentJan 20, 2021 · appointed by the president · from the start of the term
DepartureFeb 2023
The White House said on February 10, 2023 that she would leave at the end of February. CBS News reported that the White House had earlier announced she would leave in summer 2022 and that she then decided to stay longer.
Jake Sullivan, 2021 · Executive Office of the President of the United States · Public domain · Wikimedia Commons
Director of the
Nani Colorettiacting
Jan 15, 2025 — Jan 20, 2025
Details
AppointmentJan 15, 2025 · acting · after Shalanda Young left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Deputy Director of OMB. An OMB filing under the Federal Vacancies Reform Act names her acting director from January 15, 2025. She signed an OMB memorandum dated January 17, 2025 as Acting Director.
Nani Coloretti, 2022 · Executive Office of the President of the United States · Public domain · Wikimedia Commons
Shalanda YoungMar 17, 2022 — Jan 15, 2025Senate-confirmed
AppointmentMar 17, 2022 · nominated by the president, confirmed by the Senate on Mar 15, 2022
DepartureJan 15, 2025
UPI reported that Vice President Kamala Harris swore her in on March 17, 2022. An OMB filing under the Federal Vacancies Reform Act gives January 15, 2025 as the day the director post became vacant.
AppointmentMar 2021 · acting · after Rob Fairweather left
Permanent appointmentMar 17, 2022 · Confirmed by the Senate as director on March 15, 2022 and sworn in on March 17, 2022.
Confirmed as deputy director by 63 to 37 on March 23, 2021. Government Executive reported that she became acting director after the nomination of Neera Tanden was withdrawn.
AppointmentFeb 2023 · appointed by the president · after Brian Deese left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Named on February 14, 2023. The Federal Reserve said she resigned as its Vice Chair, effective on or around February 20, 2023. NPR reported on February 26, 2023 that she had started the job that week.
On January 31, 2024 the White House named John Podesta Senior Advisor to the President for International Climate Policy, to take over Kerry's international climate work when Kerry left. He worked from the White House, not the State Department.
Details
AppointmentJan 20, 2021 · appointed by the president · from the start of the term
ResignationMar 6, 2024 · Kerry said in January 2024 that he would shift to work on the 2024 election, The Hill reported.
Based at the State Department and a member of the National Security Council.
The date shown is Jha's last day. No date on which the coordinator post itself closed is on record. CNN reported on June 8, 2023 that the White House was expected to disband its COVID-19 response team. On July 21, 2023 the White House said a new Office of Pandemic Preparedness and Response Policy would take over the duties of the COVID-19 Response Team, with Paul Friedrichs as its director as of August 7, 2023.
AppointmentApr 11, 2022 · appointed by the president · after Jeff Zients left
ResignationJun 15, 2023 · A White House official said Jha would return to Brown University, where he had been dean of its School of Public Health, AP reported.
Brown University said he took a short leave for the White House post and that the appointment would begin on April 5, 2022. AP reported, citing the White House, that his first official day was Monday April 11, 2022.
His Arizona State University biography says he served as acting deputy secretary after his stint as acting secretary. A White House pool report of February 4, 2021 names him Acting Deputy Secretary.
Kathleen Hicks, 2024 · U.S. Deputy Secretary of Defense Kathleen H. Hicks · Public domain · Wikimedia Commons
David NorquistJan 20, 2021 — Feb 2021Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
DepartureFeb 2021
Holdover. Confirmed by the Senate by voice vote on July 30, 2019 and sworn in as deputy secretary on July 31, 2019, during the Trump administration. Also acting Secretary of Defense from January 20, 2021 to January 22, 2021.
Mar 16, 2021 — Jan 20, 2025Senate vote Mar 15, 2021
Details
AppointmentMar 16, 2021 · nominated by the president, confirmed by the Senate on Mar 15, 2021 · after Scott de la Vega left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
The Interior Department said she took the oath on March 16, 2021 in a small ceremony with family. A ceremonial swearing-in by Vice President Harris followed on March 18, 2021.
AppointmentMar 11, 2023 · acting · after Marty Walsh left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Deputy Secretary of Labor. Biden nominated her for secretary in 2023. SHRM reported that the Senate did not vote on the nomination and returned it. PBS and AP reported that Biden renominated her in January 2024. She was never confirmed as secretary.
Mar 19, 2021 — Jan 20, 2025Senate vote Mar 18, 2021
Details
AppointmentMar 19, 2021 · nominated by the president, confirmed by the Senate on Mar 18, 2021 · after Norris Cochran left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
ANCOR reported that he was sworn in virtually on Friday March 19, 2021. PBS and AP reported that Vice President Harris administered a ceremonial oath on March 26, 2021.
AppointmentMar 22, 2024 · acting · after Marcia Fudge left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Deputy Secretary of HUD. AP reported on PBS NewsHour that she became acting secretary when Fudge left. In January 2025 the White House cabinet page listed her as Deputy Secretary Performing the Delegable Duties of the Secretary.
Adrianne Todman, 2021 · U.S. Department of Housing and Urban Development · Public domain · Wikimedia Commons
Marcia FudgeMar 10, 2021 — Mar 22, 2024Senate-confirmed
AppointmentMar 10, 2021 · nominated by the president, confirmed by the Senate on Mar 10, 2021 · after Matthew Ammon left
ResignationMar 22, 2024 · Announced on March 11, 2024 that she would resign effective March 22, 2024, saying she would "transition to life as a private citizen", AP reported on PBS NewsHour.
AppointmentJan 1, 2025 · acting · after Michael Regan left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Head of EPA's Office of International and Tribal Affairs. AP reported that she would be acting administrator for the last weeks of the term. Her second acting stint.
Feb 24, 2021 — Jan 20, 2025Senate vote Feb 23, 2021
Details
AppointmentFeb 24, 2021 · nominated by the president, confirmed by the Senate on Feb 23, 2021 · after Richard Mills left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
VOA reported that she presented her credentials to UN Secretary-General Guterres on February 25, 2021. A second Senate vote on the day of her confirmation, 78 to 21, confirmed her as U.S. representative to the UN General Assembly sessions.
Christopher WrayJan 20, 2021 — Jan 19, 2025Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
ResignationJan 19, 2025 · NPR reported that Wray told FBI employees he would resign at the end of the Biden administration to "avoid dragging the Bureau deeper into the fray", after Trump said he would nominate Kash Patel. AP reported that his final day was Sunday January 19, 2025.
Holdover. Nominated by Trump and confirmed by the Senate by 92 to 5 on August 1, 2017. PBS reported that he was sworn in on August 2, 2017 for a ten-year term.
AppointmentJan 17, 2025 · acting · after Steve Dettelbach left
Deputy director. Bearing Arms reported that he was left in charge when Dettelbach stepped down. Remained in the post after January 20, 2025. CBS News called him the current acting director in February 2025, when Kash Patel was to replace him.
Steve DettelbachJul 12, 2022 — Jan 17, 2025Senate-confirmed
AppointmentJul 12, 2022 · nominated by the president, confirmed by the Senate on Jul 12, 2022 · after Gary Restaino left
ResignationJan 17, 2025 · The Reload reported that ATF said Dettelbach gave his resignation to President Biden effective January 18, 2025. ATF called it routine and tied to a memorandum of December 19, 2024 to all presidential appointees.
AP reported that he was the first Senate-confirmed ATF director since 2015. The Justice Department said Attorney General Merrick Garland swore him in on July 12, 2022, the day of the vote. ABC News reported a ceremonial swearing-in on July 19, 2022. BakerHostetler and Bearing Arms said he stepped down on Friday January 17, 2025.
AppointmentApr 25, 2022 · acting · after Marvin Richardson left
HandoverJul 12, 2022 · Steve Dettelbach was confirmed and sworn in.
AP reported that he was also U.S. Attorney for Arizona and held both jobs. The Justice Department said Biden signed the order designating him on April 25, 2022, effective when Dettelbach's nomination reached the Senate. The Congressional Record shows the Senate received it that day.
AppointmentJun 2021 · acting · after Regina Lombardo left
ReplacedApr 25, 2022 · AP and CNN reported that the White House put Gary Restaino in charge while Steve Dettelbach's nomination was pending, citing the Vacancies Reform Act, and that Richardson returned to deputy director.
Deputy director. CNN wrote in April 2022 that he "took the post last June".
AppointmentJan 20, 2021 · acting · from the start of the term
ResignationMay 31, 2021 · AmmoLand reported that Lombardo announced her retirement and submitted her resignation to Attorney General Merrick Garland on April 13, 2021, effective May 31, 2021.
Holdover. The Justice Department said Attorney General William Barr appointed her acting deputy director in 2019. In that role she led ATF. The end date is the effective date she gave in April 2021.
Ronald L. Davis, 2021 · U.S. Marshals Service · Public domain · Wikimedia Commons
Donald W. WashingtonJan 20, 2021 — Sep 2021Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
DepartureSep 2021
Holdover. Nominated by Trump. A release on PR Newswire of March 27, 2019 says the Senate had confirmed him. His law firm says he led the Marshals Service from 2019 to 2021.
Elizabeth PrelogarJan 20, 2021 — Aug 10, 2021acting
AppointmentJan 20, 2021 · acting · from the start of the term
HandoverAug 10, 2021 · SCOTUSblog reported that under the federal vacancies law Prelogar had to step down as acting solicitor general while her own nomination was pending, and Brian Fletcher took over.
Principal deputy solicitor general. GAO records that she was nominated for the post on August 10, 2021.
U.S. Immigration and Customs Enforcement. No director was confirmed by the Senate during the Biden administration.
Details
AppointmentJul 2023 · acting · after Tae Johnson left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Formerly acting executive associate director of Homeland Security Investigations. CNN reported that Secretary Alejandro Mayorkas told employees on June 28, 2023 that he would lead ICE as deputy director and senior official performing the duties of the director.
Patrick Lechleitner, 2023 · Immigration and Customs Enforcement · Public domain · Wikimedia Commons
Tae JohnsonJan 20, 2021 — Jun 2023acting
AppointmentJan 20, 2021 · acting · from the start of the term
ResignationJun 2023 · He retired. Secretary Alejandro Mayorkas issued a statement on his retirement on June 5, 2023.
Deputy director and senior official performing the duties of the director. The Department of Homeland Security called him ICE's leader since 2021. NBC News reported that an ICE spokesperson said he would step down at the end of June.
AppointmentJan 13, 2025 · acting · after Troy Miller left
CBP's own list starts his acting service on January 13, 2025, a week before the inauguration. Remained in the post after January 20, 2025. CBP lists him until June 23, 2025.
Chris MagnusDec 13, 2021 — Nov 12, 2022Senate-confirmed
AppointmentDec 13, 2021 · nominated by the president, confirmed by the Senate on Dec 7, 2021 · after Troy Miller left
ResignationNov 12, 2022 · CBS News reported that Homeland Security leaders asked him to step down and that a senior DHS official said Secretary Alejandro Mayorkas had lost confidence in his ability to lead CBP. Biden accepted his resignation. Magnus told the Los Angeles Times that some in the top leadership at DHS did not understand what reform looked like, CBS News reported.
AppointmentJul 23, 2024 · acting · after Kimberly Cheatle left
Deputy director. ABC News reported that he was named acting director when Cheatle resigned. Remained in the post after January 20, 2025. The Secret Service says Sean Curran took office on January 22, 2025.
AppointmentSep 18, 2022 · appointed by the president · after James M. Murray left
ResignationJul 23, 2024 · ABC News reported that in an email to employees after the shooting at a Trump rally on July 13, 2024 she wrote, "As your Director, I take full responsibility for the security lapse".
Biden announced her appointment in a White House statement on August 24, 2022. The Secret Service says she was sworn in on September 18, 2022 and took charge at once. A formal ceremony followed on September 28, 2022.
AppointmentJan 20, 2021 · appointed by the president · from the start of the term
ResignationSep 2022 · The Secret Service said Murray announced his retirement after 32 years of service, first set for July 30, 2022. ABC News reported that he then briefly delayed it to "help bridge the gap" until a new director was chosen.
Holdover. The Secret Service says Trump named him director on April 8, 2019 and that he took office on May 1, 2019. Homeland Security Secretary Alejandro Mayorkas still called him the current director in a statement of August 24, 2022.
Oct 1, 2023 — Jan 20, 2025Senate vote Sep 20, 2023
Details
AppointmentOct 1, 2023 · nominated by the president, confirmed by the Senate on Sep 20, 2023 · after Mark Milley left
Milley gave him the oath at a ceremony on September 29, 2023. Air & Space Forces Magazine reported that he took over at midnight on September 30, 2023, when Milley's term expired. Remained in the post after January 20, 2025. CBS News reported that Trump removed him in February 2025.
Charles Q. Brown Jr., 2020 · U. S. Air Force · Public domain · Wikimedia Commons
Mark MilleyJan 20, 2021 — Sep 30, 2023Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
Term endedSep 30, 2023 · Air & Space Forces Magazine reported that his four-year term as chairman expired at midnight on September 30, 2023. The law sets the chairman's term at four years. A farewell ceremony was held on September 29, 2023.
Holdover. Nominated by Trump and confirmed by the Senate by 89 to 1 on July 25, 2019. Became chairman in 2019.
May 28, 2021 — Jan 20, 2025Senate vote May 27, 2021
Details
AppointmentMay 28, 2021 · nominated by the president, confirmed by the Senate on May 27, 2021 · after John Whitley left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
First woman to serve as Secretary of the Army. GAO ends the acting service of her predecessor on May 28, 2021. Executive Gov reported she was sworn in the day after the Senate vote.
Frank Kendall, 2021 · U.S. Air Force · Public domain · Wikimedia Commons
John P. RothJan 20, 2021 — Jul 28, 2021acting
AppointmentJan 20, 2021 · acting · from the start of the term
HandoverJul 28, 2021 · Frank Kendall was sworn in.
Assistant Secretary of the Air Force for Financial Management and Comptroller. The Air Force said he was acting secretary from January 20, 2021. Air & Space Forces Magazine reported that he stepped down from the post on July 27, 2021, the day before Kendall was sworn in.
Vivek Murthy, 2022 · United States Department of Health and Human Services · Public domain · Wikimedia Commons
Susan OrsegaJan 2021 — Mar 25, 2021acting
AppointmentJan 2021 · acting · after Jerome Adams left
HandoverMar 25, 2021 · Vivek Murthy was sworn in.
A nurse and Public Health Service officer, named acting surgeon general by President Biden until the Senate confirmed Murthy. CBS News and Reuters reported her selection on January 26, 2021.
Rochelle WalenskyJan 20, 2021 — Jun 30, 2023appointed
AppointmentJan 20, 2021 · appointed by the president · from the start of the term
ResignationJun 30, 2023 · AP reported on PBS that in her letter to President Biden she pointed to the moment of transition as the COVID-19 emergency declarations ended.
AP reported that the post did not need Senate confirmation at the time and that she was sworn in on the first day of the Biden administration.
AppointmentNov 9, 2023 · nominated by the president, confirmed by the Senate on Nov 7, 2023 · after Lawrence Tabak left
DepartureJan 17, 2025
The ASCO Post reported that she announced on January 14, 2025 that she would step down. HealthDay reported that she left the post on January 17, 2025. The sources give no reason.
Francis CollinsJan 20, 2021 — Dec 19, 2021Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
ResignationDec 19, 2021 · AP reported that Collins announced on October 5, 2021 that he would step down by the end of the year and said no single person should serve in the post too long.
A holdover, appointed by President Obama in 2009. AP reported that Presidents Trump and Biden asked him to stay on. He returned to his lab at NIH.
Jerome PowellJan 20, 2021 — May 23, 2022Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
Term endedMay 23, 2022 · AP reported on PBS that his first four-year term as chair expired in February 2022 and that he led the Fed in a temporary capacity until the Senate confirmed him for a second term.
A holdover, nominated by President Trump. The Federal Reserve gives February 5, 2018 as the start of his first term as chair. President Biden renominated him in November 2021.
Mar 13, 2023 — Jan 20, 2025Senate vote Mar 9, 2023
Details
AppointmentMar 13, 2023 · nominated by the president, confirmed by the Senate on Mar 9, 2023 · after Douglas O'Donnell left
ResignationJan 20, 2025 · AP reported that in a letter to IRS employees he wrote that the President-elect had announced a plan to nominate a new commissioner and that the best way to support the transition was to leave on January 20, 2025.
AppointmentApr 17, 2021 · nominated by the president, confirmed by the Senate on Apr 14, 2021 · after Allison Herren Lee left
ResignationJan 20, 2025 · The SEC announced on November 21, 2024 that he would step down at noon on January 20, 2025.
The April 2021 vote covered the rest of Jay Clayton's term, which ended on June 5, 2021. The Hill reported that on April 20, 2021 the Senate voted 54 to 45 to give him a full term through June 5, 2026. President Biden designated him chair.
AppointmentDec 7, 2021 · nominated by the president, confirmed by the Senate on Dec 7, 2021
ResignationJan 20, 2025 · Broadband Breakfast reported that she announced in a written statement on November 21, 2024 that she would leave the FCC on January 20, 2025.
The vote was for a new five-year term as commissioner. Fortune and CNBC reported that she was the first woman to be permanent chair of the FCC.
Jessica RosenworcelJan 21, 2021 — Dec 7, 2021acting
AppointmentJan 21, 2021 · acting
Permanent appointmentDec 7, 2021 · Law360 reported that the Senate confirmed her to a new term on December 7, 2021, which made her the permanent chair.
An FCC commissioner designated acting chairwoman by President Biden on January 21, 2021. Ajit Pai had resigned effective January 20, 2021. Fortune reported that on October 26, 2021 the White House said Biden would make her the permanent chair.
Joseph SimonsJan 20, 2021 — Jan 21, 2021Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
ReplacedJan 21, 2021 · The FTC said President Biden designated Commissioner Rebecca Kelly Slaughter as acting chair. Simons had announced his resignation from the commission, effective January 29, 2021.
A holdover. The FTC says he was sworn in as chairman on May 1, 2018 under President Trump.
AppointmentNov 30, 2024 · acting · after Martin O'Malley left
DepartureJan 19, 2025
SSA's list of commissioners gives her start and end dates and says President Biden appointed her acting commissioner for the transition. She had been acting commissioner before, in 2013-2017. Michelle King became acting commissioner on January 20, 2025.
AppointmentJul 9, 2021 · acting · after Andrew Saul left
HandoverDec 20, 2023 · Martin O'Malley was sworn in.
SSA deputy commissioner for retirement and disability policy, named acting commissioner by President Biden. GAO found she was serving lawfully under the Social Security Act.
Andrew SaulJan 20, 2021 — Jul 9, 2021Senate-confirmed
AppointmentJan 20, 2021 · nominated by the president, confirmed by the Senate · from the start of the term
DismissalJul 9, 2021 · CNBC reported that President Biden removed him after he declined to resign. The White House said he had undermined and politicized Social Security disability benefits.
A holdover, nominated by President Trump and confirmed by the Senate 77 to 16 on June 4, 2019. Sworn in on June 17, 2019 for a term to January 19, 2025. He told The Washington Post he considered himself the term-protected commissioner.
AppointmentApr 27, 2021 · nominated by the president, confirmed by the Senate on Apr 22, 2021 · after Bob Fenton left
Term endedJan 20, 2025 · The Biden administration ended on January 20, 2025.
Confirmed by unanimous consent with no roll call. FEMA said Homeland Security Secretary Alejandro Mayorkas swore her in. The first woman confirmed to lead FEMA.
Deanne Criswell, 2024 · The White House · Public domain · Wikimedia Commons
Bob FentonJan 20, 2021 — Apr 27, 2021acting
AppointmentJan 20, 2021 · acting · from the start of the term
HandoverApr 27, 2021 · Deanne Criswell was sworn in.
FEMA Region 9 administrator. He took over the duties of FEMA administrator in January 2021, when Pete Gaynor became acting Homeland Security secretary, and stayed acting under President Biden.
Kiran AhujaJun 24, 2021 — May 2024Senate-confirmed
AppointmentJun 24, 2021 · nominated by the president, confirmed by the Senate on Jun 22, 2021 · after Kathleen McGettigan left
ResignationMay 2024 · Federal Times reported that an OPM spokesperson said she was stepping down because of health concerns and a recent death in the family.
Vice President Kamala Harris broke the 50-50 tie in the Senate confirmation vote.
NIH Director, January 17, 2025 to January 20, 2025: no source names who led NIH after Monica Bertagnolli left.
Director of the U.S. Marshals Service, January 17, 2025 to January 20, 2025: no source names who led the agency after Ronald Davis retired.
CBP Commissioner, January 10, 2025 to January 13, 2025: CBP's own list of leaders shows no one for these days.
FCC Chairman, January 20, 2021 to January 21, 2021: no one is on record between Ajit Pai's departure and Jessica Rosenworcel's designation.
Senate votes were checked against Voteview's copy of the Senate roll calls, the Congressional Record and news reports.
How this page is made: every line comes from an official page or a news report linked next to it. A reason for leaving is given as the source gave it, with attribution. We add no judgement of our own.
Electoral College
The president is chosen not by the national vote but by 538 electors from the states, and 270 win. Nearly every state gives all its electors to its winner, so a candidate can win the presidency while losing the popular vote.
The federal finance ministry: it collects taxes through the IRS, pays the government's bills and borrows by selling bonds. The interest on those bonds steers mortgage and loan rates.
The federal ministry in charge of borders and immigration enforcement. ICE, CBP and USCIS belong to it, as do the Coast Guard, the Secret Service and the disaster agency FEMA.
Bureau of Alcohol, Tobacco, Firearms and Explosives: the federal agency that enforces the laws on guns and explosives. Today it is part of the Justice Department.
The group of the top officers of each military service. Its chairman is the highest-ranking officer and the president's chief military adviser but commands no troops.
The federal government's chief public health doctor, who warns the country about health risks. The post leads the uniformed Public Health Service corps.
Centers for Medicare and Medicaid Services: the federal agency that runs Medicare and oversees Medicaid. Until 2001 it was called the Health Care Financing Administration.
Securities and Exchange Commission: the federal regulator of the stock market. It writes the rules for companies that sell shares and for investment firms.
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