Senior trader Peter Brandt stated on social media that Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), is not trustworthy. He stated that Gensler "has long been indifferent to the interests of investors, played an important role in the bankruptcy of MF Global, and was also the promoter of the bankruptcy of Peregrine Financial, resulting in estimated customer losses of $100 million." Peter Brandt said: "Gensler should not be trusted as the chairman of the SEC, and anything Gary Gensler says should not be considered in the best interests of investors."