A hold-up of SEC nominees

Walter Olson / Overlawyered.com

You mean getting to a floor vote so that sensitive vacancies can be filled isn’t these senators’ top priority after all?

Sen. Chuck Schumer (D) and allies are holding up two presidential nominations to the Securities and Exchange Commission, those of Democrat Lisa Fairfax and Republican Hester Peirce, demanding that the nominees commit to supporting a scheme to force shareholder-held companies to disclose their political involvements, the better for adversaries to pressure them or retaliate.

It flies in the face of the idea that the appropriate frame of mind for commissioners approaching the rulemaking process is to keep an open mind rather than promise to vote one way or the other [Stephen Bainbridge, Broc Romanek/Corporate Counsel, Marc Hodak]

“The SEC is now down to just three members, two less than its full complement, after two left the agency late last year. If the SEC remains with only three members for a prolonged period, it could be difficult for Chairman Mary Jo White to advance her agenda in what is likely her final year at the markets regulator.” [Andrew Ackerman, WSJ]

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