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Commissioner Paredes Congratulates Commission Nominees

In a somewhat unusual public statement, Commissioner Troy Paredes congratulated Michael Piwowar and Kara Stein, who have been nominated to be Commissioners of the U.S. Securities and Exchange Commission. The statement comes few days after President Barack Obama’s nominations of the two U.S. Senate aides. Commissioner Paredes, whose term expires on in June 2013, stated that he will stay on the Commission until Mr. Piwowar, who is nominated to replace him, takes office. The Senate must approve the nominations before Mr. Piwowar and Ms. Stein start their terms as SEC commissioners.