U.S. Sen. David Vitter has placed a hold on President Barack Obama’s nomination of two new members of the Securities and Exchange Commission, according to The Times-Picayune. Vitter says he’s placing the hold until the SEC decides whether to extend Securities Investor Protection Corporation coverage to investors who were defrauded by Allen Stanford. “We’ve known for some time that the SEC waited far too long to take action against Allen Stanford, and now they’re dragging their feet in responding to the victims,” Vitter told The Times-Picayune. “I will continue to hold them accountable—including holding these nominations—until these fraud victims get an up-or-down answer from the SEC on SIPC so they can move forward in the process, and if necessary, file a judicial appeal.” Read the full story here. For more information on the Stanford case, click here for a recent Business Report story.
Vitter puts hold on SEC nominees over Stanford case
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