© Reuters

Donald Trump will nominate Allison Herren Lee to fill the open Democratic position at the Securities and Exchange Commission, the White House said on Tuesday.

The nomination will bring the SEC back up to five commissioners after the departure of Kara Stein at the beginning of the year.

Ms Lee previously served at the SEC from 2005 to 2018, including as counsel to Ms Stein and most recently as an attorney in the complex financial instruments unit of the enforcement division.

If confirmed as expected, her term as commissioner will run until June 2022.

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