u.s. senate bank committee set hear date president barack obama two nominees securities exchange commission move follow democrats complaints backlog nominations committee hear nominees democrat lisa fairfax republican hester peirce take place march 15 five months obama announce selection accord schedule publish tuesday senate bank committee democrats letter feb. 22 ask panel chairman republican senator richard shelby clear backlog 16 nominations obama post relate financial oversight national security areas confirm fairfax peirce would restore sec commission five members agency oversee three commissioners since last year republican daniel gallagher democratic luis aguilar step situation heighten agency challenge recent years get consensus three sec commissioners remain kara stein democrat mike piwowar republican chair mary jo white independent feb. 22 white say intend wait sec full five-member panel move forward appoint new head public company account oversight board body create wake enron scandal police corporate auditors another topic prove particularly controversial sec regulatory waivers bank company break criminal laws face civil fraud charge must apply agency waivers keep operate normally last year commissioner stein begin publicly dissent waivers say agency often rubber-stamping create policy too-big-to-bar obama tap fairfax peirce months delay pressure liberal group nominate someone tough wall street u.s. senate bank panel set hear obama 's sec nominees