Skip to main content

Senate bank panel sets confirmation hearing for SEC nominees

The Senate Banking Committee will hold a confirmation hearing on June 27 for President Barack Obama's two nominees to serve on the U.S. Securities and Exchange Commission, the committee announced on Thursday.

Kara Stein, a Democrat, and Michael Piwowar, a Republican, would replace SEC commissioners Elisse Walter and Troy Paredes, respectively.

 

Stein is currently an aide to Senator Jack Reed, a Rhode Island Democrat and a senior member of the banking panel. Piwowar is chief economist for the committee, working under the panel's ranking Republican, Mike Crapo, of Idaho.

Stein and Piwowar are expected to have fairly speedy confirmations by the U.S. Senate, and neither is considered controversial.

They would join the SEC at a critical time. The agency is under the leadership of a new chair, former federal prosecutor Mary Jo White.

This week, White said the SEC would make major changes to its settlement policy by trying to require defendants in some select cases to admit wrongdoing. That is a departure from past practice, in which the SEC has routinely in most cases allowed defendants to neither admit nor deny charges.

The change comes on the heels of criticism from some federal judges who have denied or challenged settlements on the grounds they are too weak. But defense lawyers are warning the new policy may hinder the SEC's ability to reach settlements.

All settlements must be approved by the majority of the SEC's five commissioners, meaning Stein and Piwowar's votes could be crucial.

In addition, the SEC is facing a major backlog of rulemaking that needs to be completed under the 2010 Dodd-Frank Wall Street reform law, and it is under pressure to complete rules required by a 2012 law that eases securities regulations to help small businesses raise capital.

Separately, the SEC is mulling a controversial proposal to impose new regulations on money market mutual funds.

(Reporting by Sarah N. Lynch; Editing by Leslie Adler)

Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Thinking for Study Abroad USA. School of Charleston, the wonderful grounds is situated in the actual middle of a verifiable city - Charleston. Get snatched up by the wonderful and customary engineering, beautiful pathways, or look at the advanced steel and glass building which houses the School of Business. The grounds additionally gives students simple admittance to a few major tech organizations like Amazon's CreateSpace, Google, TwitPic, and so on. The school offers students nearby as well as off-grounds convenience going from completely outfitted home lobbies to memorable homes. It is prepared to offer different types of assistance and facilities like clubs, associations, sporting exercises, support administrations, etc. To put it plainly, the school grounds is rising with energy and there will never be a dull second for students at the College of Charleston. Concentrate on Abroad USA is improving and remunerating for your future. The energetic grounds likewise houses various

Best MBA Online Colleges in the USA

“Opportunities never open, instead we create them for us”. Beginning with this amazing saying, let’s unbox today’s knowledge. Love Business and marketing? Want to make a high-paid career in business administration? Well, if yes, then mate, we have got you something amazing to do!   We all imagine an effortless future with a cozy house and a laptop. Well, well! You can make this happen. Today, with this guide, we will be exploring some of the top-notch online MBA universities and institutes in the USA. Let’s get started! Why learn Online MBA from the USA? Access to More Options This online era has given a second chance to children who want to reflect on their careers while managing their hectic schedules. In this, the internet has played a very crucial in rejuvenating schools, institutes, and colleges to give the best education to students across the globe. Graduating with Less Debt Regular classes from high reputed institutes often charge heavy tuition fees. However onl

Sickening moment maskless 'Karen' COUGHS in the face of grocery store customer, then claims she doesn't have to wear a mask because she 'isn't sick'

A woman was captured on camera following a customer through a supermarket as she coughs on her after claiming she does not need a mask because she is not sick.  Video of the incident, which has garnered hundreds of thousands of views on Twitter alone, allegedly took place in a Su per Saver in Lincoln, Nebraska according to Twitter user @davenewworld_2. In it, an unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of the customer recording her. Scroll down for video An unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of a woman recording her A woman was captured on camera following a customer as she coughs on her in a supermarket without a mask on claiming she does not need one because she is not sick @chaiteabugz #karen #covid #karens #karensgonewild #karensalert #masks we were just wearing a mask at the store. ¿ o