President-elect Donald Trump has announced plans to significantly alter the regulatory landscape of the U.S. Securities and Exchange Commission (SEC) by pledging to remove current SEC Chair Gary Gensler on his first day in office. Trump’s transition team, co-chaired by Howard Lutnick, CEO of Cantor Fitzgerald, is actively vetting candidates for Gensler's replacement. Lutnick's involvement has sparked speculation about potential successors for the SEC leadership role. Additionally, Linda McMahon, former head of the Small Business Administration, is also part of the transition team, which is focused on shaping economic and trade policies for the early days of the new administration. The team is primarily composed of loyal supporters of Trump, indicating a strong influence from wealthy business figures in the upcoming administration's regulatory approach.