Lisa Fairfax and Hester Peirce Nominated to SEC

President Obama has nominated Lisa Fairfax and Hester Peirce to fill commissioner vacancies at the Securities and Exchange Commission (SEC).

Lisa Fairfax

Lisa Fairfax

Fairfax, a professor at George Washington University Center for Law, is a favorite of activist groups.

Dennis Kelleher of Better Markets applauded the nomination of Fairfax.

Hester Peirce

Hester Peirce

“As the American people’s cop on the Wall Street beat, the SEC must prioritize investor protection and market integrity, not incumbent market participants’ preferences, profits and business models,” Kelleher said. “As important, the SEC has to ramp up its enforcement program at the biggest, most dangerous securities firms and restore the rule of law and accountability on Wall Street. By nominating Lisa Fairfax to serve on the SEC, President Obama has wisely chosen a substantive expert who understands the mission and importance of the agency. That’s exactly what the SEC needs as it works to restore investor and public confidence in our securities markets.”

Fairfax is a graduate of Harvard Law School.

Peirce, a research fellow at the George Mason University, will fill the Republican slot on the Commission.

Peirce was the senior counsel for the Minority Staff of the Senate Committee on Banking, Housing, and Urban Affairs from 2008 to 2011.

From 2000 to 2008, Peirce served at the Securities and Exchange Commission, first as a staff attorney in the Division of Investment Management from 2000 to 2004 and then as counsel to Commissioner Paul Atkins from 2004 to 2008.

Peirce is a graduate of Yale Law School.

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