SEC Nominees Get Hearing

The Senate Banking Committee will hold a hearing June 27 to consider President Obama’s two nominees for the Securities and Exchange Commission.

The President last month tapped Democrat Kara Stein, a top aide to Sen. Jack Reed, D-R.I., to replace commissioner Elisse Walter, and Michael Piwowar, the Republican chief economist to the Senate Banking Committee, to replace commissioner Troy Paredes. They will join a commission that will oversee the release of the municipal advisor definition, as well as possible changes to money market fund rules.

The two will have to win confirmation from the full Senate once they obtain committee approval.

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