The Senate Banking Committee will hold a nomination hearing for Allison Herren Lee to be a new member of the Securities and Exchange Commission on June 5, the same day the SEC is set to vote on Regulation Best Interest.
President Donald Trump announced on April 2 that he had nominated 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.
Lee, a Democrat, has been nominated to serve a 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, as a litigation partner at Sherman & Howard LLC in Denver.