For the first time in more than 800 days, the Securities and Exchange Commission has a chairman and full slate of commissioners.
On Jan. 11, Robert Jackson, a democrat, and Hester Peirce, a republican, were sworn in as SEC commissioners, filling two vacant seats that lingered as such through two presidential administrations.
Jackson and Peirce were nominated to the SEC by President Donald Trump, and their nominations were confirmed by the U.S. Senate on Dec. 21. Both new commissioners participated in that day’s inaugural meeting of the SEC’s Fixed Income Market Structure Advisory Committee.
“I look forward to working with Rob and Hester as we continue our focus on our vital mission and ensuring that our markets are working for the benefit of Main Street investors," Chairman Jay Clayton said. “It is clear to me they will bring energy, commitment, and dedication to our work and have our mission at the front of their minds.”
“I’m honored to join Chairman Clayton and Commissioners Stein, Piwowar and Peirce in the SEC’s critical mission of ensuring that investors are protected, that our markets provide a level playing field for all Americans, and that entrepreneurs have access to the capital they need to create jobs," said Jackson. “The SEC boasts a talented and dedicated staff, and I’ll do all I can to support their efforts to make sure our securities laws keep pace with our ever-changing markets.”
“It is such an honor to return to the SEC to work with my colleagues on the Commission and the staff for the benefit of investors and the American economy,” said Peirce.
Jackson joins the SEC from NYU School of Law, where he was a professor of law. He previously was professor of law and director of the Program on Corporate Law and Policy at Columbia Law School. He also has served as an adviser at the Treasury Department and in the Office of the Special Master for TARP Executive Compensation. Commissioner Jackson earned his BA from the University of Pennsylvania, a BS and MBA in Finance from Wharton, an MPP from Harvard University’s Kennedy School of Government, and his JD from Harvard Law School.
Peirce was joins the Commission from the Mercatus Center at George Mason University, where she served as a Senior Research Fellow and Director of the Financial Markets Working Group. She previously worked for U.S. Senator Richard Shelby on the Senate Committee on Banking, Housing, and Urban Affairs, and, prior to that, as counsel to then-SEC Commissioner Paul Atkins and as a Staff Attorney in the Division of Investment Management.
Peirce earned her BA in economics from Case Western Reserve University and her JD from Yale Law School.
Jackson fills a term that expires on June 5, 2019, and Commissioner. Peirce fills a term that expires on June 5, 2020.