This week, several leading financial publications reported that SEC Commissioner Daniel Gallagher will be departing the agency earlier than expected. The WSJ reports that Gallagher has “notified the White House of his plans to leave the five-member agency as soon as a successor is confirmed by the Senate.” Gallagher’s five-year term as commissioner does not officially end until June 2016.
Gallagher may now end up leaving the SEC at roughly the same time as his fellow commissioner, Luis Aguilar. Aguilar has been a commissioner at the SEC since 2008, and his term expires in June 2015. It is unclear whether Aguilar will agree to stay on past June if his successor has not yet been confirmed by the Senate.
