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Senate Confirms SEC Commissioners

On August 3, Kara Stein and Michael Piwowar began their terms as SEC Commissioners. Stein, formerly an aide to Sen. Jack Reed (D-RI), succeeded Democratic commissioner Elisse Walter, whose tenure at the agency was set to end in December. Piwowar, formerly an aide to Sen. Mike Crapo (R-Idaho), succeeded Republican commissioner Troy Paredes. Outgoing Commissioner Paredes released a public statement on his departure congratulating the new commissioners. The new commissioners’ arrival could help expedite a number of delayed rules, including a variety of unfinished provisions from the Dodd-Frank Act.

The Senate also voted to lengthen SEC Chair Mary Jo White’s term, which will now end in June 2019. Initially, White had been confirmed to serve out only the remainder of her predecessor Mary Schapiro’s term, which ends next year.