Law360, New York (May 17, 2016, 11:15 PM ET) — Former Securities and Exchange Commission member Daniel Gallagher and several other industry players threw their support Tuesday behind three proposed House bills that would impose new requirements on the SEC and proxy advisory firms and cut paperwork for private funds.
Gallagher, now the president of consulting firm Patomak Global Partners, offered his support for the bills in testimony before the House Subcommittee on Capital Markets and Government Sponsored Enterprises.
In his testimony, Gallagher referred critically to his time at the SEC, which he left in October.
“During my time as a commissioner, this committee regularly challenged the commission to satisfy its statutory mission to facilitate capital formation,” Gallagher said. “In an era of unbridled, misguided regulation, this was truly a breath of fresh air.”
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