Jaime E. Lizárraga has been confirmed as one of two Commissioners of the U.S. Securities and Exchange Commission (SEC) by the U.S. Senate.

He was a previous presidential appointee at the Treasury Department and the SEC, and is currently the senior adviser to House Speaker Nancy Pelosi. 

“During the fourteen years he has served as Senior Advisor, Jaime has played an integral role in enacting some of the most consequential economic legislation in a generation” wrote Pelosi in a statement. 

His tenure has seen him work on various pieces of legislation, including the Build Back Better Act, American Rescue Plan of 2021, PROMESA, the Dodd-Frank Act, and many more. He’s also oversaw a number of issues related to financial markets, housing, immigration, small business policy, and more. 

“As Commissioner, he will bring this deep expertise to fulfill the SEC’s congressional mandate to protect investors, promote fair and transparent markets, and facilitate capital formation,” added Pelosi. “Guided by his commitment to building a more equitable financial future for all, he is the model of an outstanding and patriotic public servant, who has served our nation for his entire professional career.”

As he soon embarks on his new journey as SEC Commissioner, Lizárraga will become the third Latino to serve in the role, following in the footsteps of Roel Campos (2002-2007) and Luis Aguilar (2008-2015).

He will be the successor to Allison Herren Lee, who announced on March 15 that she would be stepping down from her seat, deciding against seeking a second term. Lizárraga brings with him more than 30 years of experience in public service, advising lawmakers and executive agencies leaders. 

Lizárraga is also a member of the Latino Corporate Directors Association (LCDA). 

After his appointment to the SEC, LCDA President and CEO Esther Aguilera applauded Lizárraga, calling him “an excellent choice for a seat on the commission.”

“The commission will be well-served by Mr. Lizárraga given his extensive expertise and commitment as a public servant,” said Aguilera. 

Mark T. Uyeda has also been named as SEC commissioner.

Uyeda is a career attorney with the SEC, currently serving on the Senate Banking Committee where he is part of the securities counsel on the committee’s minority staff. He has more than 25 years of experience in corporate and securities laws, including 18 years of public service in federal and state government. 

As SEC Commissioner, he will fill the seat left by Commissioner Elad L. Roisman, who resigned from his position in January. 

Pennsylvania Pat Toomey congratulated Uyeda on Twitter, tweeting: “I know Mark is destined to do great things and will faithfully carry out the agency’s mission.”

Both Lizarraga and Uyeda testified jointly before the Senate Banking Committee in May, and were advanced out of the committee through a voice vote on June 8. 

“We congratulate Jaime Lizárraga and Mark Uyeda on their successful Senate confirmations to serve as Commissioners… We look forward to their many contributions to the agency and our work on behalf of the American public,” SEC Chair Gary Gensler wrote in a statement after the confirmation. 

The SEC will now have a full complement of five Commissioners, with a 3-2 Democratic majority.