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Senate Banking Committee to Vet Republican and Democrat SEC Nominees

By:
Chris Gaetano
Published Date:
Mar 14, 2016

SECURITIES-AND-EXCHANGE-COMMISSION-facebookThe Senate Banking Committee will evaluate whether a pair of academics, a Democrat and a Republican, should be the ones to fill two vacancies on the Securities and Exchange Commission, according to Bloomberg. The hearing, scheduled for tomorrow, will be taking place five months after President Obama first nominated the two candidates. 

The nominees are Democrat Lisa Fairfax, a George Washington University law professor, and Republican Hester Peirce, a senior research fellow at George Mason University, according to Bloomberg. Fairfax has been a vocal critic of Wall Street, while Peirce has long opposed what she feels are overbearing regulations, said Bloomberg. 

Should both be confirmed, Bloomberg said their strong ideological positions could reinforce the partisan gridlock that has slowed SEC rulemaking since the start of Chair Mary Jo White's tenure.