By Katanga Johnson

WASHINGTON (Reuters). -The U.S. Securities and Exchange Commission’s Democratic Commissioner Allison Lee intends to leave the agency in June. However, she will still be in charge until a replacement is chosen, Lee said in a statement Tuesday.

Lee announced Tuesday, “My term of Commissioner is up in June and I have noticed President Biden about my intentions to retire from the Commission after my successor has been confirmed.”

Lee’s resignation would occur as the agency works on an ambitious program of rule changes to affect Wall Street brokers and public companies.

While the SEC’s 2-1 Democratic majority would remain, it will continue to wait for an empty Republican seat, which was left vacant by Elad Rosman in January.

Lee has been a commissioner since 2019. He previously served several years at the SEC in various senior positions, including as an enforcement lawyer.

From January 2021 to April 2021 she was acting as the chair until Gary Gensler took over as the chief Wall Street regulator.

Satyam Khanna (a sustainability consultant who was previously a SEC policy advisor on climate and ESG) said, “Allison Lee definitely raised the bar while serving the SEC as acting chair.”

Khanna explained that Khanna launched “pathbreaking ESG initiatives across SEC”, including issuing an information request on climate risk disclosure and directing the examination to increase its focus on ESG. Khanna also helped shed light on the voting practices of corporate investors.