By Katanga Johnson
WASHINGTON (Reuters) -U.S. President Joe Biden on Wednesday nominated two new commissioners to serve at the nation’s securities regulator in a move that will help the agency regain its full strength amid vacancies.
The two Securities and Exchange Commission (SEC) hopefuls would first need to be confirmed in the Senate before they can assume office.
Jaime Lizárraga has been nominated to fill a Democratic seat currently occupied by commissioner Allison Lee, who has said she plans to leave the agency once a successor is in place.
Mark Uyeda, an SEC staffer who has been temporarily on detail to the Senate Banking Committee, has been tapped to replace a January vacancy created by former Republican commissioner Elad Roisman.
Biden’s nominations of the new SEC officials would bring the five-member commission to a full voting capacity and Democrats would maintain an even larger majority.
U.S. House Speaker Nancy Pelosi, a Democrat, applauded the selection of Lizarraga. “As Commissioner, Jaime will be a force in safeguarding the interests of the investing public, improving transparency in our financial markets and building a more equitable financial future for all,” she said.
U.S. Senator Pat Toomey, a Republican, said of Uyeda: “Having personally worked with Mark during his time as SEC attorney detailed to the Senate Banking Committee, I know first hand that Mark’s depth of knowledge on securities and markets is unrivaled.”
(Reporting by Katanga Johnson, Susan Heavey and Tim Ahmann in WashingtonEditing by Matthew Lewis)
