The Senate announced on Friday that it confirmed Michael Piwowar and Kara M. Stein as new members of the SEC, and SEC Chairman Mary Jo White for a full term effective until 2019.
Stein replaces Elisse B. Walter, who has served as an SEC commissioner since 2008. Piwowar succeeds Troy A. Paredes, who has also served since 2008, Compliance Week reports.
“Serving as a commissioner for the past five years has been a terrific honor,” Paredes said. “The chance to be involved in so many important issues has been rewarding, and it has been a privilege to have served with my fellow members of the Commission and to have worked with the talented SEC staff. I want to congratulate Mike Piwowar and Kara Stein on having been confirmed as SEC commissioners and wish them both the best as they prepare to join the Commission.”
Piwowar and Stein join the SEC from the Senate, where both served as staffers. Piwowar acted as the chief Republican economist for the Senate Banking Committee, and Stein served as a top aide to Sen. Jack Reed (D-R.I.), according to Compliance Week.