(Bloomberg) -- President Joe Biden plans to nominate an aide to House Speaker Nancy Pelosi and a long-time Securities and Exchange Commission staffer to fill two top slots at the regulator, the White House said on Wednesday.
Jaime Lizarraga, a senior adviser to Pelosi, would take over for departing Democratic Commissioner Allison Herren Lee. Mark Uyeda, who has spent a chunk of his career at the SEC and is currently on detail to the Senate Banking Committee, would fill an open Republican seat on the five-person commission.
Both picks require Senate approval.
If confirmed, Lizarraga and Uyeda would join the SEC at a time when Chair Gary Gensler is pushing to tighten regulations on Wall Street traders, hedge-fund managers and crypto firms. The agency last month also proposed requiring businesses to outline the risks a warming planet poses to their operations when they file registration statements, annual reports or other documents.