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April 03, 2019 at 10:28 AM
President Donald Trump announced Tuesday that he has nominated veteran securities lawyer Allison Herren Lee to serve as a commissioner at the Securities and Exchange Commission.
Lee, who served at the SEC from 2005 to 2018 in various roles including senior counsel in the Complex Financial Instruments Unit, and as counsel to former Commissioner Kara Stein, enters the agency as it nears a vote on its contentious advice-standards package, including Regulation Best Interest.
Lee, a Democrat, has been nominated to serve a five-year term, expiring June 5, 2022; if confirmed by the Senate, she will replace Stein, who left the commission in early January.
Democratic SEC Commissioner Robert Jackson’s term expires this year, but commissioners can stay on up to 18 months after their term expires, or until a replacement is confirmed.
