Senate Confirms Two SEC Nominees

The full Senate confirmed Democrat Robert Jackson and Republican Hester Peirce as SEC Commissioners. With these confirmations, all five SEC Commissioner positions are now filled.

Mr. Jackson is a Columbia Law School Professor and Director of the Program on Corporate Law and Policy. Previously, he served as senior adviser to the U.S. Treasury Department.

Ms. Peirce is a Senior Research Fellow and Director of the Financial Markets Working Group at the Mercatus Center at George Mason University. She previously served on the Minority Staff of the Senate Committee on Banking, Housing, and Urban Affairs. Ms. Peirce was with the SEC from 2000 to 2008, first as a Staff Attorney in the Investment Management Division, and then as Counsel to former Commissioner Paul Atkins.

Lofchie Comment: Ms. Peirce is a scholar, in addition to having a background at the SEC and as a staff member in Congress. The Cabinet has published a good deal of her work, including her perspectives on Dodd-Frank.

Robert Jackson is known for his work on executive compensation and political contributions.

Ms. Peirce had been originally nominated for the Commission by President Obama in March of 2016, along with Democrat Lisa Fairfax, a professor at George Washington Law School (with Ms. Peirce being the “Republican” nominee and Ms. Fairfax the “Democrat”). However, the two nominations were derailed, primarily by Democrats who expressed concern that the nominees were not sufficiently committed to rule making on the issues of executive compensation and political contributions.

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