U.S. SEC's Gallagher to resign from his post: Bloomberg

Reuters News
Posted: May 12, 2015 2:49 PM

WASHINGTON (Reuters) - U.S. Securities and Exchange Commission Republican member Daniel Gallagher is expected to resign from his post at the agency, Bloomberg reported on Tuesday, citing people familiar with the matter.

Bloomberg said Gallagher would remain on the job until a replacement is named by the White House.

Reuters could not immediately verify the report. A staffer for Gallagher declined to comment.

SEC Democratic Commissioner Luis Aguilar is also coming up against an expired term on June 5.

He can continue serving for a period of time after it expires.

Aguilar told Reuters on Tuesday he was not seeking another term, but "has no current plans to leave."

Bloomberg said the White House had already begun vetting possible candidates to replace Aguilar.

(Reporting by Sarah N. Lynch; Editing by Peter Cooney)