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Jaime Lizarraga and Mark Uyeda

Regulation and Compliance > Federal Regulation > SEC

Senate Panel OKs 2 New SEC Commissioner Nominees

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What You Need to Know

  • Jaime Lizárraga is senior advisor to House Speaker Nancy Pelosi.
  • Mark Uyeda is a securities counsel on the minority staff of the Senate Banking Committee.
  • Their nominations now move to the full Senate.

The Senate Banking Committee approved by voice vote Wednesday the nominations of Jaime Lizárraga, senior advisor to House Speaker Nancy Pelosi, and Mark Uyeda, a securities counsel, to serve as commissioners at the Securities and Exchange Commission.

Their nominations now move to the full Senate.

President Joe Biden nominated Lizárraga and Uyeda on April 6.

Lizárraga oversees issues relating to financial markets, housing, international financial institutions, immigration and small-business policy. He also serves as Pelosi’s liaison to the Congressional Hispanic Caucus, Biden said in his announcement.

Uyeda, a securities counsel on the minority staff of the Senate Committee on Banking, Housing and Urban Affairs, has over 25 years of experience in corporate and securities law, including 18 years of public service working in federal and state government, according to Biden’s announcement. He has also served as assistant director and senior special counsel in the SEC’s Division of Investment Management.

Uyeda joined the SEC in 2006 and has worked in various capacities, including as senior advisor to former SEC Chairman Jay Clayton and former acting chairman Michael Piwowar, and as counsel to former SEC Commissioner Paul Atkins.

If confirmed, Uyeda would replace former SEC Commissioner Elad Roisman, a Republican, who left the agency at the end of January.

Lizárraga, if confirmed, would replace Allison Herren Lee, a Democrat, whose term expires in June.

Sen. Pat Toomey, R-Pa., said Wednesday in a statement that Lizárraga was “well-qualified” to serve on the commission “based on his many years of work on financial services issues on Capitol Hill and in the executive branch.”

Uyeda, Toomey continued, “is also well-qualified … based on his over 25 years of experience in securities and corporate law, including the last 15 years as a career SEC attorney.”

Toommey added that having worked with Uyeda “during his time detailed to the Banking Committee, I know firsthand that he is exceptionally hard working, smart, knowledgeable, and fair.”

Uyeda’s nomination “is historic for the SEC,” Toomey said. “If confirmed, he’ll be the first Asian Pacific American to serve as an SEC Commissioner in the agency’s 88-year history.”

Pictured: Jaime Lizárraga, left, and Mark Uyeda.