While Washington was focused on the U.S. Supreme Court nomination hearings and other distractions this week, the Senate voted to confirm the nomination of Elad Roisman to serve as a Republican member of the U.S. Securities and Exchange Commission on an 85-14 vote. After Mr. Roisman is sworn in, the five-member commission will be back at full strength and Republicans will have a 3-2 majority for the first time since July 6. The other commissioners are Jay Clayton and Hester Peirce, both Republicans and Democrats Kara Stein and Robert Jackson, Jr.
Mr. Roisman has most recently served as Chief Counsel for the Senate Banking Committee and formerly served as counsel to SEC Commissioner Dan Gallagher and as Chief Counsel to NYSE Euronext. He fills the seat vacated in July by Commissioner Michael Piwowar.
Commissioner Kara Stein's term ended in June 2017, but by law she is permitted to remain in office until the end of 2018, unless a replacement is nominated. According to reports, Senate Democrats have urged President Trump to nominate Allison Lee, a former SEC enforcement attorney to replace Stein, but so far, the White House has not signaled who it may nominate.