Why President Obama Likely Will Nominate a Republican for Two Terms on the SEC and a Democrat for One
Republican nominees to the SEC (and the CFTC) usually take the place of Republican commissioners, and Democrats usually replace Democrats.
Vacancies are slowly piling up and little action has been taken to fill them. There are currently five vacancies at independent financial regulatory agencies.
This year there will be no last-minute votes for high-level jobs at the major independent financial regulatory agencies. Why? None are pending.
Have last year’s changes to the U.S. Senate’s filibuster rule changed the speed at which independent financial regulators are nominated or confirmed? It is too soon to answer that question, but the unusual number of current and upcoming vacancies on the Federal Reserve Board of Governors (Board) will provide a notable test case in the Senate.