President Obama on Tuesday nominated two candidates for positions on the Securities and Exchange Commission, including a law professor favored by liberals and a think tank analyst selected by Republicans.

The Democratic candidate, Lisa Fairfax, is a professor at George Washington University Law School.

The other candidate for a spot on the five-member commission, Hester Peirce, is a financial regulatory analyst at the Mercatus Center, a libertarian think tank at George Mason University. Peirce was previously a Republican staffer for the Senate Banking Committee and has served as a staffer at the commission.

The SEC, which is tasked with protecting investors and regulating financial markets, is required to have at least two commissioners who are not from the majority party.

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