On Wednesday, the Senate confirmed the SEC’s newest commissioner, Elad L. Roisman.
Roisman will be filling the seat left by Commissioner Michael Piwowar who announced his resignation back in May in a statement and letter to President Trump.
Piwowar, who was appointed to the Commission in 2013 by former President Barack Obama, also served as the SEC’s acting chairman for five months in 2017.
Roisman previously served as the chief counsel at the U.S. Senate Banking Committee and as counsel to former SEC Commissioner Daniel Gallagher.
Roisman’s five-year term has been celebrated with an enthusiastic response from industry groups IRI and NAIFA.
Both IRI and NAIFA issued statements saying they were eager to work with the newest commissioner.
IRI President and CEO Cathy Weatherford said in a statement, “IRI congratulates Elad Roisman on his Senate confirmation to serve as a SEC Commissioner. His experience as a senior Senate committee staffer and his prior service as a counsel to former SEC Commissioner Daniel Gallagher will enable him to hit the ground running to fulfill the SEC’s important financial regulatory responsibilities. We look forward to working with him on issues relevant to our members and our industry.”