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Senate Banking panel votes to confirm SEC nominees

Representative Mel Watt (L), nominee to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac, shakes hands with Kara Stein,
Representative Mel Watt (L), nominee to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac, shakes hands with Kara Stein,

By Sarah N. Lynch

WASHINGTON (Reuters) - The U.S. Senate Banking Committee voted unanimously on Wednesday to confirm President Barack Obama's Democratic and Republican nominees to serve on the Securities and Exchange Commission, the top regulator in charge of policing Wall Street.

The vote by the panel to confirm Democratic SEC nominee Kara Stein and Republican nominee Michael Piwowar now paves the way for the full U.S. Senate to vote on their nominations, which are considered non-controversial.

In addition, the panel also agreed to confirm SEC Chair Mary Jo White for a full five-year term. Previously, the Senate had only voted for White to fulfill the remainder of former SEC Chair Mary Schapiro's term, which expires in 2014.

(Reporting by Sarah N. Lynch; Editing by Gerald E. McCormick)

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