Daniel M. Gallagher, Jr.

Daniel M. Gallagher, Jr. was a Commissioner of the Securities and Exchange Commission from November 2011 to October 2015.

Mr. Gallagher served the agency in several capacities throughout his professional career, including as counsel to SEC Commissioner Paul S. Atkins, and later as counsel to SEC Chairman Christopher Cox, working on matters involving the Division of Enforcement and the Division of Trading and Markets.

In 2008, he joined the Division of Trading and Markets as Deputy Director and served as Co-Acting Director of the Division from April 2009 until January 2010.  During this period, Mr. Gallagher was on the front lines in the agency’s response to the financial crisis.  He represented the Commission in the Lehman Brothers liquidation, and helped lead the agency in addressing other crisis-related issues, including the move to central clearing of swaps and matters involving SIPC.  In his role as Co-Acting Director of Trading and Markets, he also served as the inaugural Chairman of Committee 6 of the IOSCO Technical Committee, responsible for addressing matters related to the regulation of credit rating agencies.

As a Commissioner, Mr. Gallagher focused on initiatives aimed at strengthening our capital markets and encouraging small business capital formation, including staunchly supporting the changes introduced by the JOBS Act.  Mr. Gallagher was an outspoken and frequent advocate for conducting a comprehensive holistic review of equity market structure issues; increasing the Commission’s focus on the fixed income markets, both corporate and municipal; addressing the outsized power of proxy advisory firms; and eliminating special privileges for credit rating agencies.  He also addressed the creeping federalization of corporate governance matters as well as the concerted efforts of special interest groups to manipulate the SEC’s disclosure regime to advance their political agendas.  Mr. Gallagher spoke frequently about the shortcomings of the Dodd Frank Act and the encroachment of bank regulatory measures and prudential regulators into the capital markets.  In addition, Mr. Gallagher has been an outspoken critic of the disturbing trend toward empowering supranational groups to enact “one world” regulation outside established constitutional processes.

Prior to his service on the Commission, Mr. Gallagher advised clients on broker-dealer regulatory issues and represented clients in SEC and SRO enforcement proceedings as a partner with the Washington, D.C. law firm WilmerHale, where he earlier began his career in private practice.  Mr. Gallagher also served as the General Counsel and Senior Vice President of Fiserv Securities, Inc., where he was responsible for managing all of the firm’s legal and regulatory matters.

Mr. Gallagher earned his JD degree, magna cum laude, from the Catholic University of America, where he was a member of the law review. He graduated from Georgetown University with a BA degree in English.


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