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By Sarah N. Lynch and Svea Herbst-Bayliss
WASHINGTON/BOSTON, April 12 Bharat R. Ramamurti,
a legislative aide for Democratic Senator Elizabeth Warren, is a
contender for one of the vacancies on the U.S. Securities and
Exchange Commission, according to people familiar with the
Ramamurti is senior counsel to Warren on banking and
economic policy and she is staunchly backing him for the SEC
job, one of the sources told Reuters.
The sources spoke anonymously because deliberations on
candidates for the SEC, which is the primary regulator that
polices and writes rules for Wall Street, are not public.
Ramamurti declined to comment.
A source said a decision on the post was not imminent. In
prior instances with President Donald Trump's administration,
candidates in the running for positions were sometimes dropped
after their names became public.
Other names that are in the mix include Vermont Law School
professor Jennifer Taub, the AFL-CIO's office of investment
director Heather Slavkin Corzo and Andy Green, a managing
director at the Center for American Progress who previously
worked for SEC Democratic Commissioner Kara Stein, the sources
Taub and Green declined to comment and Slavkin Corzo could
not be immediately reached.
A spokesperson for the White House declined to comment,
saying he could not discuss personnel matters.
Trump must nominate three people to fill out the five-member
panel, which currently is down to two commissioners - Acting
Chairman Michael Piwowar, a Republican, and Stein.
The nomination of Wall Street deal-making attorney Jay
Clayton, Trump's choice to lead the SEC, was approved by the
Senate Banking Committee earlier this month.
Clayton, an independent, is still awaiting confirmation by
the full Senate, which is currently away for Easter recess.
Trump has not yet formally nominated anyone else for the
remaining SEC spots - one Democrat and one Republican.
Warren, a progressive Democrat, has been critical of the
Trump administration's plans to roll back the 2010 Dodd-Frank
Wall Street reform law.
She voted against Clayton's nomination, saying his
employment as a lawyer at Sullivan & Cromwell representing large
banks creates too many conflicts of interest and may prevent him
from being a tough regulator.
As her counsel on the banking committee, Ramamurti has
played a prominent role in shaping Warren's policy agenda. He
helped steer her investigative efforts into the Wells Fargo fake
accounts scandal and worked on bipartisan efforts to broker a
deal on housing reforms for mortgage lenders Fannie Mae and
(Reporting by Sarah N. Lynch in Washington and Svea
Herbst-Bayliss in Boston; Editing by Chris Reese and Bill Trott)