September 5, 2018 / 5:10 PM / 2 months ago

Senate votes to advance Trump's pick for SEC commissioner

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, U.S., June 24, 2011. REUTERS/Jonathan Ernst/File Photo

WASHINGTON (Reuters) - The U.S. Senate voted 85 to 14 on Wednesday to confirm Elad Roisman, President Donald Trump’s pick as commissioner to fill the vacant Republican seat atop Wall Street’s securities regulator.

The decision allows Roisman, 37, to be sworn in at the Securities and Exchange Commission (SEC), replacing Michael Piwowar, a Republican who vacated the role when his term ended in June.

Wednesday’s vote brings the current four-member panel to its full five-member complement, at least until year-end, when one of the Democratic commissioners ends her term.

While the White House has yet to formally propose a Democratic candidate for the role, a Bloomberg report in August named former SEC enforcement attorney Allison Lee as the potential nominee to fill the vacant role, citing sources.

Reporting by Katanga Johnson, editing by G Crosse

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