Besides removing William D. Duhnke III, the SEC said it intends to seek candidates to fill the other Board positions.
"We do not believe the current Board members are up to the task of re-focusing the PCAOB on its core mission," says an investor group.
“If we don’t address this now, the investing public may shoulder a burden later,” SEC Chairman Gary Gensler says.
Oh's resignation after only a few days on the job followed a judge's ruling in a case in which she represented ExxonMobil.
He will be the first cryptocurrency policy and blockchain technology expert to take the reins at the SEC.
The SEC must ensure that crypto markets "are free of fraud and manipulation,” Gary Gensler told the Senate Banking Committee.
The appointment of the former CFTC chief "is expected to put an end to the four years of rule-easing" that Wall Street has enjoyed under Jay Clayton.
The regulator, former CFTC Commissioner Gary Gensler, was a key player in the fight to impose tougher rules on Wall Street.
