Gensler Faces Union Fight Over Pay as He Moves Ahead With Agenda

<-bsp-person state="{"_id":"0000017e-4afe-d767-affe-cafe52080000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Gary Gensler’s bold push for new rules already has Wall Street on edge. Now, his hard-charging style is fueling a clash with some of the <-bsp-bb-link state="{"bbHref":"bbg://securities/13165Z%20US%20Equity","_id":"0000017e-4afe-d767-affe-cafe52080001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Securities and Exchange Commission’s own employees.

The agency’s union took the unusual step of singling out the chair by name last month, accusing Gensler of pursuing “an aggressive, anti-employee agenda” in discussions about pay and benefits. The two sides are now in federal mediation after the worker group demanded an intervention.

It’s an unwelcome distraction as Gensler is counting on the SEC’s rank-and-file to help churn out dozens of new regulations. His plans ...