SEC Commissioner Daniel Gallagher, citing “the [growing] need to bring greater clarity to my tenure,” stated his intention to leave the SEC by Friday, October 2, 2015.
Lofchie Comment: The departure of Commissioner Gallagher will be a loss to the financial markets, as he has been among those who has evidenced the most practical understanding of how markets work. In addition, we think his development of a visual demonstration of the burdens of regulation imposed by Dodd-Frank is among the most compelling pieces of evidence as to the drag that the sheer volume of regulation (to say nothing of its “quality”) has imposed on the markets and the economy. See SEC Commissioner Gallagher Announces Updated Regulatory Chart (with Lofchie Comment) (June 4, 2015).