“President Obama has nominated Lisa Fairfax and Hester Peirce to fill commissioner vacancies at the Securities and Exchange Commission (SEC).
“Fairfax, a professor at George Washington University Center for Law, is a favorite of activist groups. Dennis of Better Markets applauded the nomination of Fairfax. “As the American people’s cop on the Wall Street beat, the SEC must prioritize investor protection and market integrity, not incumbent market participants’ preferences, profits and business models,” Kelleher said. “As important, the SEC has to ramp up its enforcement program at the biggest, most dangerous securities firms and restore the rule of law and accountability on Wall Street. By nominating Lisa Fairfax to serve on the SEC, President Obama has wisely chosen a substantive expert who understands the mission and importance of the agency. That’s exactly what the SEC needs as it works to restore investor and public confidence in our securities markets.”
Read the full Corporate Crime Reporter article here.