Obama Picks Ex-Senate Aide, Professor to Be SEC Commissioners

By Dave Michaels, Bloomberg News

President Barack Obama plans to name Democrat Lisa Fairfax and Republican Hester Peirce to serve on the U.S. Securities and Exchange Commission, the White House said in statements on Tuesday.

Fairfax, a George Washington University law professor, would take a seat that liberal groups have said should go to a reform proponent who is skeptical of Wall Street. Peirce, a senior research fellow at George Mason University, would become the third of the SEC’s five commissioners to have worked as a policy aide on the Senate Banking Committee.

Fairfax and Peirce, whose nominations will be ...