As AdvisorOne reported in April, President Barack Obama has picked Kara Stein and Michael Piwowar to be commissioners at the Securities and Exchange Commission, replacing Elisse Walter and Troy Paredes.
Obama announced late Thursday that Stein, an aide to Sen. Jack Reed, D-R.I., will replace Walter (right), a democrat, and that Piwowar, an economist on the Senate Banking Committee’s staff, will replace Paredes, a Republican.
The nominations now go to the Senate Banking Committee for approval, and then on to the full Senate.
Paredes’ term expires on June 5, 2013. Walters’ term technically expired on June 5, 2012, but she can stay in office until the end of this year.
Piwowar’s term would expire on June 5, 2018, and Stein’s term would expire on June 5, 2017.
Senate Banking Committee Chairman Tim Johnson, D-S.D., said in a statement that Stein “is a smart, dedicated public servant who has done superb work for Senator Reed on issues before the committee for over a decade. I look forward to supporting Kara’s nomination, and I am confident she will make an outstanding commissioner.”