A former U.S. Senate Banking Committee lawyer has emerged as the leading candidate for a Republican seat on the Securities and Exchange Commission, people familiar with the matter said.
Hester Peirce, a senior research fellow at George Mason University’s Mercatus Center, would fill the slot held by departing Commissioner Daniel Gallagher. She is a well-known critic of the government’s Wall Street bailout and the regulatory expansion passed in the wake of the financial crisis.
If confirmed, Peirce would become the third SEC commissioner with a background of working in the Senate. Some critics have charged that the practice of appointing congressional aides has led to increased partisan conflicts and slowed the adoption of new regulations at the five-member commission.
Peirce’s policy views are similar to Gallagher’s, and her nomination would provide continuity on the Republican side of the commission. The White House is also looking to name a new Democrat as a replacement for Luis Aguilar, whose term is expiring.
Source: BloombergBusiness