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REGULATION/LEGISLATION

President nominates 2 SEC commissioners

SEC

Hester Peirce and Lisa Fairfax were nominated by President Barack Obama to serve as SEC commissioners, the White House announced Tuesday.

Ms. Peirce is a senior research fellow and director of the Financial Markets Working Group at the Mercatus Center at George Mason University in Fairfax, Va. She is a former counsel for the Senate Banking, Housing, and Urban Affairs Committee, and worked at the Securities and Exchange Commission from 2000 to 2008 as a staff attorney and counsel to Commissioner Paul Atkins. Before that, she was an associate at law firm Wilmer Cutler Pickering Hale and Dorr.

Ms. Fairfax is a professor at George Washington University Law School, where she serves on the executive board and as director for programs for the George Washington Center for Law, Economics and Finance. Before that, Ms. Fairfax held various roles at the University of Maryland School of Law, and was an associate at law firm Ropes & Gray.

Investment Adviser Association President and CEO Karen Barr welcomed the White House announcement in a statement. “The SEC has a lot of important work to do, and it is critically important that the agency have a full complement of commissioners. We are hopeful that they will be quickly confirmed by the Senate and look forward to working with them at the SEC,” Ms. Barr said.

If confirmed by the Senate, the new commissioners would replace outgoing commissioners Daniel Gallagher and Luis Aguilar.

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