Transcription factor that is necessary for placental development (PubMed:8962155). Involved in the control of expression of placental growth factor (PGF) and other placenta-specific genes. Binds to the trophoblast-specific element 2 (TSE2) of the aromatase gene enhancer. Binds to the SYDE1 promoter. Has a central role in mediating the differentiation of trophoblast cells along both the villous and extravillous pathways in placental development (By similarity). Placenta specific. Polyubiquitinated in the presence of UBE2D2 and FBXW2 (in vitro).