The Securities and Exchange Commission announced today that Daniel M. Gallagher has been named a Deputy Director in the agency's Division of Trading and Markets.
Mr. Gallagher will join the Trading and Markets senior management team of Deputy Director Robert Colby and Director Erik Sirri.
Erik Sirri, Director of the Division of Trading and Markets, said, "I am thrilled to have Dan join the Division as a Deputy Director. His unique blend of Commission, private sector, and law firm experience will be a tremendous resource for both the Division and the Commission. With Dan and Bob Colby as Deputy Directors, the Division is well-positioned to handle the daily challenges presented by an ever-changing marketplace."
In recent years, the Division's staffing and responsibilities have grown to include supervision of the nation's largest investment banks under the 2004 Consolidated Supervised Entities program, and oversight of Nationally Recognized Statistical Rating Organizations under the 2006 Credit Rating Agency Reform Act. An additional Deputy Director position is designed to assist the Division in better managing its significant responsibilities.
Mr. Gallagher said, "It is an honor and a privilege to join the staff of the Division of Trading and Markets. I have a deep respect for the Division staff and mission, and I look forward to working with Erik, Bob, and my colleagues to help carry out the Division's responsibilities."
Mr. Gallagher has served as Counsel to SEC Chairman Christopher Cox since 2007, and before that he served as Counsel to Commissioner Paul S. Atkins. In those capacities, he has worked on many of the major Division of Trading and Markets rulemakings during the last few years, including the Nasdaq Exchange application, the NYSE/Euronext merger, Regulation R, the implementation of the Credit Rating Agency Act of 2006, the elimination of short selling restrictions, and various broker-dealer initiatives.
Mr. Gallagher was formerly the General Counsel and Senior Vice President of Fiserv Securities, Inc., a clearing broker-dealer, where he was responsible for managing all of the firm's legal and regulatory matters. Mr. Gallagher began his career at Wilmer Cutler Pickering Hale and Dorr, where he advised clients regarding broker-dealer regulatory issues, and represented clients in SEC and SRO enforcement proceedings.
Mr. Gallagher earned his J.D., magna cum laude, from the Catholic University of America, where he was a member of the law review, and he graduated from Georgetown University with a B.A. in English.
Mr. Gallagher's appointment will be effective July 21, 2008.