Obama chooses 2 women for SEC

President Obama is nominating two women, both attorneys and academics at Washington, D.C.-area universities, as members of the Securities and Exchange Commission. If they are confirmed by the Senate, four of the five SEC commissioners will be women, a first for the agency.

The nominees are Lisa Fairfax, a Democrat, who teaches law at George Washington University, and Hester Peirce, a Republican, who heads a financial markets program at George Mason University and was formerly a Senate aide.

The independent agency oversees Wall Street and the financial markets. It is headed by Mary Jo White, a former federal prosecutor and attorney in private practice. White is an Independent. The other two commissioners are Kara Stein, a Democrat, and Michael Piwowar, a Republican.

Fairfax is a law professor and director for programs at George Washington University’s Center for Law, Economics and Finance. She also has taught at Georgetown University Law Center and the University of Maryland School of Law.

Peirce is a senior research fellow at George Mason and director of the financial markets working group at the university’s Mercatus Center. She was senior counsel for the Republican staff of the Senate Banking Committee from 2008 to 2011. Peirce worked at the SEC from 2000 to 2008.