WASHINGTON, Aug 15 (Reuters) - The U.S. Securities and Exchange Commission swore in Michael Piwowar as its newest Republican member on Thursday, rounding out the five-member panel, the agency said.
Piwowar, an economist, will replace Commissioner Troy Paredes, who stepped down earlier this month.
Piwowar most recently worked for the Senate Banking Committee under Ranking Member Mike Crapo and former Ranking Member Richard Shelby. He also worked at the SEC previously as a visiting scholar and senior financial economist.
Piwowar and Kara Stein, a Democrat, were both nominated as SEC commissioners by President Barack Obama in May and were confirmed by the U.S. Senate on August 1.
Stein, who previously worked as a Senate staffer under Rhode Island Democrat and Senate Banking Committee member Jack Reed, was sworn into office as commissioner last week. Stein replaced outgoing SEC Commissioner Elisse Walter.
The SEC said Piwowar’s swearing-in ceremony took place in Los Angeles, with the Los Angeles Regional Director Michele Wein Layne officiating.