Jaime Lizarraga, a Democrat on the Securities and Exchange Commission's (SEC) five-member committee, said he would step down more than two years early, leaving the committee with only two Republicans and one Democrat after the Trump administration takes office in January. Lizarraga, a former aide to former House Speaker Nancy Pelosi, was awarded a five-year term at the SEC in 2022; in announcing the decision, he cited his wife's poor health. The announcement came a day after SEC Chairperson Gensler announced he would leave the SEC on the day Trump was scheduled to take office. With Lizarraga's departure, Republicans will outnumber Democrats in the agency from the first day of the new administration, which could enhance their ability to take very different paths on policy issues such as regulating cryptocurrencies and pursuing law enforcement cases.