Michael Piwowar, the chief Republican economist for the U.S. Senate Banking Committee, is being vetted for an appointment to the Securities and Exchange Commission when a slot opens later this year, according to four people briefed on the matter.
Elizabeth Warren, the Harvard University law professor who heads the congressional watchdog group for the $700 billion Troubled Asset Relief Program, is the driving force behind a proposal now being weighed by Treasury Secretary Timothy Geithner to create a consumer financial products commission.
A majority of U.S. Securities and Exchange Commission members are seeking a study of money-market regulations after Chairman Mary Schapiro’s bid to advance new rules failed last month, a person familiar with the matter said.
When Mary Schapiro steps down as chairman of the U.S. Securities and Exchange Commission this week, she’ll leave behind a commission composed of two Democrats and two Republicans -- an even split that could drag an already sluggish agency to a standstill.
JPMorgan Chase & Co. , sued by the trustee for Bernard Madoff’s defunct firm for $6.4 billion for allegedly aiding the con man’s fraud, asked a judge to remove the case from bankruptcy court because it raises “novel and unsettled questions” beyond the court’s scope and expertise.