When SEC Commissioner Daniel Gallagher announced in mid-May 2015 that it was his intention to depart the agency as soon as a successor was confirmed by the Senate, he probably thought that would spur the White House to name a successor. Nearly four months later, however, no successor has been nominated by the White House. Today, Commissioner Gallagher issued a short statement indicating that his offer to stay on as a commissioner now has an expiration date: Friday, October 2, 2015.
Noting that “the need to bring greater clarity to my tenure has steadily grown,” Commissioner Gallagher said that he recently informed President Obama that “I intend to leave the Commission on the earlier of the appointment of my successor or Friday, October 2, 2015. It has been a great honor to serve on the Commission during such an important time.”
