President Obama announced he would nominate Hester Peirce, a researcher George Mason University’s Mercatus Center and vocal Dodd-Frank Act critic, and Lisa Fairfax, a George Washington University Law School professor, to serve as members of the Securities and Exchange Commission.
Peirce previously worked as senior counsel for the Senate Banking Committee under Sen. Richard Shelby (R-Ala.) and before that was counsel at the SEC. She would fill the open Republican seat on the commission. Fairfax, a corporate governance expert, would fill the seat being vacated by Democrat Luis Aguilar. Both must be confirmed by the Senate.