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Obama Makes Nominations for SEC Commissioners

President Barack Obama nominated two U.S. Senate aides on Thursday to serve as members of the Securities and Exchange Commission, the agency tasked with policing Wall Street.Obama said Kara Stein, an aide to Rhode Island Democratic Senator Jack Reed, would replace SEC Democratic Commissioner Elisse Walter.Michael Piwowar, an economist who works for Alabama Republican Senator Richard Shelby, would replace SEC Republican Commissioner Troy Paredes, whose term is set to expire in June.The Senate must approve the nominations."Both of their experiences will serve them well as they work to fulfill the SEC's mission of protecting investors and ensuring a fair marketplace," Senate Banking Committee Chairman Tim Johnson of South Dakota said in a statement.Stein's and Piwowar's names have been circulating for months as likely successors to Walter and Paredes.Obama's decision to nominate them roughly one month after SEC Chairwoman Mary Jo White was sworn in signals the administration is anxious to...

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