The Senate approved the nominations of Michael Piwowar and Kara Stein to serve on the Securities and Exchange Commission Thursday night.

With their confirmations, the SEC will have a majority of new members since the first of the year.

Piwowar, a Republican economist, takes over the expired seat of Troy Parades while Stein, a Democratic securities lawyer, will replace Elisse Walter.

Neither of the new commissioners, who both come from the staffs of the Senate Banking Committee, have publicly expressed views on issues relevant to financial advisors. But both have received high marks from Investment Adviser Association Executive Director David Tittsworth.

Also, on Thursday, the Senate gave SEC Chairman Mary Jo White a full five-year term beginning next June. She had been serving out the remainder of the term of former SEC Chair Mary Schapiro.

 

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