Senate Votes 85-14 to Confirm Roisman as SEC Commissioner

Elad Roisman received Senate approval to become a Republican Commissioner of the SEC, succeeding Michael Piwowar who stepped down in July. Roisman, who has worked in the financial services industry and most recently as the Republicans’ chief counsel on the Senate Banking Committee, largely echoed SEC Chairman Jay Clayton’s major priorities, including fostering capital formation, during his confirmation hearings. In the past, the Senate has confirmed both a Republican and Democratic commissioner simultaneously. Commissioner Kara Stein, a Democrat, is expected to step down at the end of the year, and the Democrats have not yet named a nominee. According to the Wall Street Journal, Piwowar has joined the Milken Institute as executive director of its center for financial markets. The Senate also recently confirmed Republican Dawn Stump and Democrat Dan M. Berkovitz as CFTC commissioners, bringing the regulatory agency to full strength, the Wall Street Journal reported.