Sen. To Block SEC Nominations Over Stanford Scheme

Law360, New York (June 14, 2011, 6:16 PM EDT) -- A Republican senator said Tuesday that he would block the nominations of two U.S. Securities and Exchange Commission members until the agency said whether it would give Securities Investor Protection Corp. money to victims of Robert Allen Stanford's alleged Ponzi scheme.

U.S. Sen. David Vitter, R-La., said he would block 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, until he got an answer.

“Unfortunately, the SEC has not yet given...
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