The White House submitted for confirmation the names of 2 candidates to serve as SEC Commissioners.  Dan Gallagher, Jr., a WilmerHale partner who is a former SEC staffer, was nominated to replace Kathleen Casey as a Republican Commissioner when her term ends in June.  SEC Commissioner Luis Aguilar was nominated to serve a 2nd term as one of two Democratic Commissioners.  Their names will be submitted on Wednesday to the Senate.

    Profile of Dan Gallagher, Jr.     Currently a partner in the securities practice of Wilmer Cutler Pickering Hale & Dorr LLP, Mr. Gallagher had served as a top official in the SEC's Trading and Markets Division during the financial crisis.  He originally joined the SEC in 2006 and, for several months prior to his departure from the Commission in January 2010, served as Co-Head of Trading and Markets.  He also spent time serving as counsel to former SEC Commissioner Paul Atkins and SEC Chairman Christopher Cox, both Republicans.

If confirmed, Mr. Gallagher would fill the seat being vacated by SEC Commissioner Kathleen Casey.  Ms. Casey is stepping down next month, when her term expires. 

    Profile of Luis Aguilar.   Mr. Aguilar was nominated by George W. Bush in 2008 to serve as the Democratic Commissioner.  His term expired last June, but SEC rules allow commissioners to stay for as long as 18 months past the expiration of their terms if no successor has been appointed. 

The SEC is an independent federal agency with 5 commissioners - the other three being Chairman Mary Schapiro, Commissioner Elisse Walter (a Democrat), and Troy Paredes (a Republican).   [WSJournal, 5/19/11]