Martin Gruenberg, chair of the US Federal Deposit Insurance Corporation, is stepping down after a review found the regulator had failed to deal with widespread cases of misconduct, including complaints against the chair himself.

“In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed,” Gruenberg said on May 20. Until then he said he will continue to lead efforts to improve the FDIC’s workplace culture.

The law firm Cleary Gottlieb released a