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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.