Kara Stein and Michael Piwowar, nominated by President Obama to serve on the Securities and Exchange Commission, were questioned on they would approach rulemaking and enforcement during a confirmation hearing before the Senate Banking Committee on Thursday. Completing the unfinished work of the Jumpstart Our Business Startups (JOBS) Act and Dodd-Frank Act was cited by both as a priority, as was requiring admissions of guilt as a condition of enforcement actions.
The committee will vote on the nominations at a later date, with full Senate confirmation to follow.
