SEC, Fed Nominees Get Backing From Senate Banking Panel

Former SEC lawyer Allison Lee is one step closer to taking a Democratic seat at the commission.

The Senate Banking Committee endorsed her nomination to serve on the Securities and Exchange Commission by voice vote at a meeting near the Senate floor June 18, according to a panel spokeswoman. The action sends Lee to the full Senate for consideration. She would succeed Democrat Kara Stein, who left the SEC in January.

The vote came after Lee got only one question during a June 5 hearing on her nomination and other presidential nominees. Sen. Robert Menendez (D-N.J.) had asked her about ...