Yesterday, SEC Commissioner Luis A. Aguilar advised President Obama that he intends to step down as commissioner “at the end of December 2015, or at such earlier time as my successor assumes my position.” On October 20, 2015, Lisa Fairfax and Hester Peirce were nominated by President Obama to succeed Aguilar and Commissioner Dan Gallagher, who departed the Commission on October 2, 2015. According to Investment Advisor Magazine, both Fairfax and Peirce are expected to be confirmed by the Senate by the end of 2015.
Aguilar was sworn in as commissioner on July 31, 2008 after being appointed by President George W. Bush. He was subsequently reappointed by President Barack Obama in 2011. Upon his departure, Aguilar will be the eighth longest-serving commissioner out of the 94 commissioners in the agency’s history, and one of just three commissioners who have been nominated by two different presidents from two different political parties.
