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New Commissioners Sworn In to Start SEC Terms

The Securities and Exchange Commission announced that two newly confirmed commissioners have now been sworn in and have begun their tenure.

On August 9, Ms. Kara M. Stein was sworn into office as an SEC Commissioner to replace former Democrat Commissioner Elisse Walter. Before coming to the SEC, Ms. Stein was the Legal Counsel and Senior Policy Advisor to Sen. Jack Reed. From 2009-2013, she served as the Staff Director of the Senate Banking, Housing, and Urban Affairs Committee’s Subcommittee on Securities, Insurance, and Investment.

Dr. Michael S. Piwowar was sworn into office on August 15 to replace former Republican commissioner Troy Paredes, who stepped down earlier this month. Previously, Dr. Piwowar was the chief Republican economist on the U.S. Senate Committee on Banking, Housing, and Urban Affairs under Senators Mike Crapo and Richard Shelby. During the financial crisis, Dr. Piwowar served a one-year term as a senior economist at the President’s Council of Economic Advisers under Presidents George W. Bush and Barack Obama. His first tenure at the SEC was a visiting academic scholar and senior financial economist in the SEC’s Office of Economic Analysis, now the Division of Economic and Risk Analysis.