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Commissioner Gallagher to Step Down

SEC Commissioner Dan Gallagher will soon resign, according to a report from Bloomberg. The article notes that Gallagher will remain on the Commission until his seat is filled, though the administration has already identified potential candidates. Gallagher’s term was set to expire in 2016 and the article gives no reason for the departure.

Fellow Commissioner Luis Aguilar will also soon be leaving the Commission due to the end of his term in June. However, he also will likely remain until his replacement is confirmed. The article suggested that the White House is considering former SEC attorneys Keir Gumbs and Philip Khinda, both now in private practice.