President George Bush has put forward Troy Paredes to fill the open spot on the Securities and Exchange Commission vacated by Paul Atkins. Atkins is planning to leave the SEC June 5 when his term ends.

Parades is a 37-year-old professor at Washington University Law School professor and the co-author of an 11-volume treatise on securities law. He must still be confirmed by the Senate before taking his seat on the five-member regulatory body. If confirmed, his five-year term would end in 2013.

In a release, the White House stated that Paredes "possesses an impeccable command of securities issues and a thorough understanding of the complex challenges facing the SEC. The President is confident that Mr. Paredes is the right person to serve in this important position."

Atkins confirmed his intent to resign on Monday, saying that he intended to continue a career in the private sector. He is expected to remain on the commission until his replacement is confirmed.

Atkins seat is one of two held by Republicans. In March, Bush made nominations for both of the Democrat seats on the commission. He tapped Elisse Walter and Luis Aguilar for the seats. Walter was a deputy director of the SEC's corporation finance division while Aguilar was a counsel to Invesco PLC.

Both Aguilar and Walter awaits Senate confirmation.  

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