On May 23, 2013, President Obama nominated Kara M. Stein, a Democrat, and Michael Piwowar, a Republican, to act as SEC Commissioners. Ms. Stein currently serves as an aide to Rhode Island Democratic Sen. Jack Reed and would replace SEC Commissioner Elisse Walters. Mr. Piwowar currently works as an economist for the Senate Banking Committee and would replace SEC Commissioner Troy Paredes. Each nomination is subject to approval by the Senate.