Sen. Lifts Hold On SEC Nominees Over Stanford Relief

Law360, New York (June 15, 2011, 6:19 PM EDT) -- A senator on Wednesday dropped his day-old hold on two nominees to the U.S. Securities and Exchange Commission after the agency said some investors caught up in alleged Texas fraudster Robert Allen Stanford's $8 billion Ponzi scheme were entitled to compensation under federal law.

Sen. David Vitter, R-La., said that he would lift his hold on the nominations of Daniel M. Gallagher, a partner in WilmerHale's securities group, and Luis Aguilar, an SEC commissioner whose term ended in early June, to serve on the commission after...
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