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March 8 — The Senate Banking Committee will hold a March 15 hearing on the nominations of law professor Lisa Fairfax and think tank scholar Hester Peirce to join the Securities and Exchange Commission, the committee said March 8.
Fairfax and Peirce were nominated in October to the commission vacancies . Daniel Gallagher left the commission that same month and Luis Aguilar's term expired in June, although he stayed through 2015.
The hearing will be the first committee action on nominations in more than a year. More than a dozen executive branch nominations were sent to the committee in 2015, but the panel acted on none of them, making it the only committee with unconfirmed nominees that didn't approve a single one during the entire year.
Fairfax is a professor at George Washington University Law School who previously taught at the University of Maryland and was a lawyer at Ropes & Gray LLP in Boston and Washington.
She has written extensively on corporate governance issues, and her academic experience could be a boon to Chairman Mary Jo White's efforts to bolster board diversity among U.S. companies .
Peirce is a scholar for the Mercatus Center at George Mason University and was previously a staffer for Sen. Richard Shelby (R-Ala.), who chairs the Senate Banking Committee.
She has been a longtime harsh critic of new financial regulations, in particular the Dodd-Frank Act.
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