TechFlow news — On November 23, Fox reporter Eleanor Terrett stated on the X platform that Democratic SEC Commissioner Jaime Lizarraga will resign on January 17. After Trump takes office, only one Democrat, Caroline Crenshaw, will remain on the commission. This means three vacancies will need to be filled by January 20.
This also means that until these nominees are confirmed, the SEC will have a Republican majority of 2-1 (Uyeda and Peirce are Republicans, while Crenshaw is a Democrat).
Trump may choose two Democrats who align more closely with his policies. Past precedent allows the minority party to recommend candidates from their own ranks, which can facilitate the confirmation process, though the president is under no obligation to follow such recommendations.
Alternatively, Trump could appoint independents to these positions. The rule stipulates that no more than three members of the commission can belong to the same political party as the president. For example, Jay Clayton, the former chair during Trump's first term, was an independent.
