GOP Senate Banking Counsel Tapped to Fill SEC Slot
President Trump has nominated Senate Banking Committee aide Elad Roisman to serve as a Republican member of the Securities and Exchange Commission (SEC).
Roisman, who currently serves as Chief Counsel to the Senate Banking, Housing and Urban Affairs Committee under Chairman Mike Crapo (R-ID), would replace current Commissioner Michael Piwowar, who announced May 7 that he will be departing the SEC at the end of his term in July.
Crapo said in a press release that, “Having worked on securities issues for many years – in both the public and private sectors – [Elad] has demonstrated his in-depth knowledge of our capital markets and other complex issues. His wealth of experience and expertise will be an invaluable asset to the SEC, and I am confident that as a commissioner, he will work to fulfill the agency’s mission.”
If confirmed by the Senate, Roisman would serve for a five-year term.
Roisman previously served as counsel to former SEC Commissioner Daniel Gallagher from 2012 to 2014. He also worked as Chief Counsel for NYSE Euronext from 2010 to 2012, and as an associate with Milbank, Tweed, Hadley & McCloy LLP from 2006 to 2010. According to his LinkedIn profile, he attended the Boston University School of Law and Cornell University.
The SEC will also be losing the service of a Democratic commissioner later this year. Commissioner Kara Stein’s five-year term expired in 2017, but commissioners may serve up to 18 months beyond the expiration of their terms, according to the SEC. A nominee has not yet been named for Stein.