Public hires SEC’s Gary Gensler’s lead advisor Prashant Yerramalli
As one of Chair Gensler’s lead advisors, he helped the SEC with all aspects of the agency’s mission, including rulemaking, policy enforcement, strategy, personnel management, operations, communications, and legislative affairs.
Public has appointed Prashant Yerramalli to the executive team as VP of Operations and Regulatory Affairs, the investing platform for stocks, treasuries, ETFs, crypto, and alternative assets, announced.
The appointment comes at a time of heat for the SEC after filing lawsuits against Binance and Coinbase earlier this month and a recent proposed bill in Congress to effectively gut the agency’s powers.
“I have seen firsthand the power of new technologies on the financial markets”
Prashant Yerramalli joins the regulatory team at Public after serving as the Chief of Staff for SEC Chairman Gary Gensler. As one of Chair Gensler’s lead advisors, he helped the SEC with all aspects of the agency’s mission, including rulemaking, policy enforcement, strategy, personnel management, operations, communications, and legislative affairs.
Previously, he held roles at Brookfield Asset Management, Jenner & Block, and WilmerHale, having begun his career in public service as a law clerk to the Hon. Naomi Reice Buchwald in the Southern District of New York.
Public’s new VP of Operations and Regulatory Affairs will leverage his experience and expertise to help drive new product development and manage Public’s overall risk profile. He will also provide strategic support to the legal and compliance teams on various regulatory matters.
Prashant Yerramalli, VP of Operations and Regulatory Affairs at Public, said: “Throughout my career, I have seen firsthand the power of new technologies on the financial markets and the transformation that can occur in people’s lives by saving and investing for their futures. I am excited to join Public because I see a real opportunity here to help build a platform to introduce the next generation of investors to our capital markets.”
Stephen Sikes, COO of Public, commented: “In the last few years, we have seen monumental growth at Public, as we have set out to build the best multi-asset platform for retail investors. As a business at the intersection of technology and finance, it is critical that we understand and operate within the appropriate regulatory frameworks. We’re thrilled to have a leader and thinker of Prashant’s caliber joining our team to continue creating products that help our members be great investors. ”
Public allows clients to invest in stocks, treasuries, ETFs, crypto, and alternative assets, like fine art and collectibles, while steering away from selling trades to market makers or the Payment for Order Flow (PFOF) model.
