WASHINGTON — Two Securities and Exchange Commission nominees are moving toward confirmation, and their influence could be felt in both rulemaking and enforcement actions, observers said.
The Senate could confirm Michael Piwowar and Kara Stein as soon as mid-July after the pair testified before the Senate Banking Committee Thursday. Both expressed a commitment to upholding the SEC’s mandate to promote market fairness and transparency, and to supporting chairman Mary Jo White’s priorities as she sets them. Democrat Stein, a top aide to Sen. Jack Reed, D-R.I., would replace Elisse Walter. Piwowar, the Republican chief economist to the Banking Committee, would replace commissioner Troy Paredes.