Peirce, Crenshaw Get Senate Banking Committee Nod for SEC Seats

Finishing Dodd-Frank mandated rules such as executive compensation should also be a priority for the commission, Crenshaw stated, during her nomination hearing before the Senate Banking Committee on July 21.

Crenshaw, a Democrat, also pointed to two aspects of Regulation Best Interest compliance that she views as especially critical: ensuring firms are held "accountable when they are not appropriately mitigating conflicts of interest," and that Form CRS actually provides "valuable" information.

SEC Commissioner Peirce, a Republican, was also questioned during the July 21 nomination hearing. Peirce was sworn in on Jan. 11, 2018. If confirmed by the full Senate, her second term would expire on June 5, 2025.

"I feel like the work that I came to the commission to do is not done," Peirce told senators.

Peirce stated that part of her work will include "helping the economy come out of the current COVID crisis," including through capital formation.

— Check out SEC Updates Indexed Annuity Investor Bulletin on ThinkAdvisor.