Trump Nominates New SEC Commissioner

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.

Lee’s previous roles include serving as a special assistant U.S. attorney, and prior to government service, was a litigation partner at Sherman & Howard LLC in Denver.

Since leaving the SEC, she has, among other things, lectured and taught courses in financial regulation and corporate law at Universidad de Navarra in Pamplona, Spain, and LUISS Universita Guido Carli, Dipartimento di Giurisprudenza in Rome.

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