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Aguilar Explains It All: Advice for Future SEC Commissioners

Joe Mont | December 1, 2015

As he moves on from the Securities and Exchange Commission, Luis Aguilar has a parting gift for future commissioners who will follow in his footsteps. He has issued a public statement, likely his last as a commissioner, to share what he has learned about navigating the unique challenges that come with the job.

Aguilar joined the Commission July 2008, shortly before the demise of Lehman Brothers and the financial crisis that followed. “When I first walked through this agency’s doors I did not find a ‘how to’ guide on being a commissioner,” he wrote. “There is no training manual on how to do a Commissioner’s job. For the most part, being an SEC Commissioner is on-the-job training.”

Commissioners are allowed to hire four counsels, from either inside or outside the agency, and their selection “may be one of the most important decisions you make as a Commissioner, because it will...

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