President Nominates Two SEC CommissionersJune 5, 2013
On May 23, President Barack Obama nominated Dr. Michael Piwowar and Kara M. Stein to be Commissioners of the Securities and Exchange Commission. Piwowar would replace Republican Troy Paredes, and Stein would replace Democrat Elisse Walter, as a Democratic appointee on the five-member commission.
Dr. Michael Piwowar is the Chief Economist for the U.S. Senate Committee on Banking, Housing, and Urban Affairs, a position he has held since 2009. From 2008 to 2009, Dr. Piwowar served as a Senior Economist on the Council of Economic Advisers, where he was also a Staff Economist to the Financial Regulatory Reform Working Group of the President’s Economic Recovery Advisory Board. From 2006 to 2009, he worked as a Principal at the Securities Litigation and Consulting Group, Inc. Dr. Piwowar was a Senior Financial Economist from 2004 to 2006 and a Visiting Academic Scholar from 2002 to 2004 at the Securities and Exchange Commission. From 1998 to 2004, Dr. Piwowar served as an assistant professor at Iowa State University. He received a B.A. from the Pennsylvania State University, an M.B.A. from Georgetown University, and a Ph.D. from the Pennsylvania State University.
Kara M. Stein is currently Legal Counsel and Senior Policy Advisor to Senator Jack Reed. From 2009 to 2013, she served as Staff Director of the Senate Subcommittee on Securities, Insurance, and Investment with the Committee on Banking, Housing and Urban Affairs. Ms. Stein has served in multiple roles within Senator Reed’s office, including Legal Counsel and Senior Policy Advisor from 2007 to 2009, Democratic Director on the Banking Subcommittee on Housing and Transportation from 2001 to 2006, and Legal Counsel from 1999 to 2000. Previously, she was a Legislative Assistant with Senator Chris Dodd from 1997 to 1999. Before her service on the Hill, Ms. Stein was an associate with Wilmer, Cutler & Pickering from 1996 to 1997 and an assistant professor with the University of Dayton School of Law from 1995 to 1996. She was an Advocacy Fellow with the Georgetown University Law Center from 1993 to 1995, a Skadden Fellow from 1991 to 1993, and a visiting lecturer with the University of Nigeria Faculty of Law from 1989 to 1990. Ms. Stein received a B.A. from Yale College and a J.D. from Yale Law School.