George Washington University Law School Dean Blake D. Morant is proud to announce that Lisa M. Fairfax, the Leroy Sorenson Merrifield Research Professor of Law, has been nominated by President Barack Obama to serve as Commissioner of the Securities and Exchange Commission (SEC).
"An extraordinary scholar and teacher, Professor Fairfax's intellect and experience confirm her stature as a national authority in the areas of corporations and securities,” said Dean Morant. “She will be an exemplary Commissioner."
During her time at GW, she has taught courses in corporate and securities law and is a nationally recognized scholar in the fields of corporate law, corporate governance, director fiduciary obligations, and securities law. Professor Fairfax currently serves as a member of the Investor Advisory Committee of the SEC.
Professor Fairfax also has served on the National Adjudicatory Council of the Financial Industry Regulatory Authority (FINRA) and FINRA’s NASDAQ Market Regulation Committee. In addition, she served on the American Bar Association Business Law Section’s Committee on Corporate Law, an invitation-only committee responsible for updating and reviewing the Model Business Corporation Act.
Professor Fairfax has served as chair of both the Securities Regulation and Business Association Sections of the Association of American Law Schools. Before entering academia, she practiced corporate and securities law with the law firm of Ropes & Gray in Boston and Washington. She graduated with honors from Harvard College and Harvard Law School.
The SEC was created by Congress in 1934 to regulate the federal securities market and oversee market participants, including securities exchanges, securities brokers and dealers, investment advisors, and mutual funds. The SEC’s mission is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.
The SEC is composed of five Commissioners who must be appointed by the President and confirmed by the Senate. If confirmed, Professor Fairfax will be the third African American Commissioner in the SEC’s history.