(Bloomberg) -- Kara M. Stein and Michael S. Piwowar, both senior U.S. Senate aides, were nominated today by President Barack Obama to join the Securities and Exchange Commission.

Stein would replace Elisse B. Walter as a Democratic commissioner and Piwowar would succeed Troy A. Paredes as a Republican appointee on the five-member commission that oversees the country’s capital markets, according to a news release issued by the White House. Stein has served as a top aide to Senator Jack Reed, a Rhode Island Democrat, and Piwowar has been chief Republican economist on the Senate Banking Committee.

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