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James Brigagliano and Daniel Gallagher have been appointed co-acting directors of the SEC's Division of Trading and Markets, replacing Erik Sirri, who left the agency on April 24.
Brigagliano and Gallagher are currently deputy directors in the division, which oversees the Commission's programs related to securities and options exchanges, brokers/dealers, clearing agencies, transfer agents, and, since 2007, credit ratings agencies.
SEC Chairman Mary Schapiro said in a statement that "Jamie and Dan are both skilled leaders who can be counted upon to provide wise counsel in the oversight of trading practices and market regulation."
According to the SEC, Brigaliano is a 20-year SEC veteran who joined the Division in 1998. He has managed oversight of trading practices, including rules regulating short sales and market manipulation. Previously, Brigaliano served in the SEC's Office of General Counsel, representing the Commission in a wide range of matters in federal district and appellate courts. Brigaliano received his law degree from Georgetown University and undergraduate degree from Amherst College.
Gallagher was named deputy director of the division in 2008 after working on market regulation and enforcement matters as a counselor to former SEC Chairman Christopher Cox and former Commissioner Paul Atkins. In those capacities, the SEC says that Gallagher worked on major rulemakings including the implementation of the Credit Rating Agency Reform Act and several broker/dealer initiatives. He was formerly the general counsel of a clearing broker/dealer, and he began his career in private practice advising clients on broker/dealer regulatory and enforcement matters, according to the SEC.