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Regulation and Compliance > Federal Regulation > SEC

Ex-SEC Commish Gallagher Joins Regulatory Firm Patomak as President

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Former SEC Commissioner Daniel Gallagher is now president of financial services regulatory consulting firm Patomak Global Partners in Washington.

Gallagher, who served as a Republican commissioner at the Securities and Exchange Commission from November 2011 to October 2015, left his post early, on Oct. 2. His term was to expire this year.

The White House nominated Mercatus fellow Hester Peirce to replace Gallagher, a Republican, on the Commission, while George Washington University law professor Lisa Fairfax has been nominated to replace Democratic Commissioner Luis Aguilar, who left in December.

Senate Banking Committee Chairman Richard Shelby is said to be scheduling confirmation hearings for Peirce and Fairfax as early as the end of January.

Former SEC commissioner Paul Atkins serves as Patomak’s CEO, while another former SEC commissioner, Kathleen Casey, is a senior advisor at the firm.

During his tenure at the SEC, Gallagher focused on initiatives aimed at strengthening the capital markets and encouraging small business capital formation, including staunchly supporting the changes introduced by the JOBS Act.

He was a staunch opponent of the Dodd-Frank Act, as well as the Department of Labor’s rule to amend the definition of fiduciary under ERISA and the SEC moving forward on its own uniform fiduciary rule for brokers and advisors.

— Check out What’s Worse Than the SEC’s Revolving Door? on ThinkAdvisor.


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