Democrats mull short list of SEC candidates

By Rachelle Younglai

WASHINGTON (Reuters) - Senators have narrowed a list of candidates to fill two Democratic commissioner seats at the Securities and Exchange Commission, a source familiar with the matter said on Friday.

Senate Majority Leader Harry Reid, a Nevada Democrat, will soon send recommendations to the White House for its consideration, the source said.

The SEC's five commissioners are nominated by the president and confirmed by the Senate. Because the two open SEC seats are allotted to the Democrats, congressional Democrats provide the White House recommendations for those positions.

The short list includes Elisse Walter, an executive vice president with the Financial Industry Regulatory Authority, and Luis Aguilar, a partner at law firm McKenna Long & Aldridge, according to sources.

Walter previously was the general counsel of the Commodity Futures Trading Commission and the deputy director of SEC's corporation finance division. Her name was put forward by New York Sen. Charles Schumer, sources say.

Aguilar served as the general counsel and executive vice president of Invesco, an institutional investment company, and also worked as a lawyer at the SEC. He has the backing of New Jersey Sen. Robert Menendez, according to sources.

"They have identified qualified candidates," the source familiar with the process said. "They have moved forward and certainly if they are not finalized are close to finalizing the names."

Walter and Aguilar could not be reached for comment.