Daniel M. Gallagher
|Daniel M. Gallagher|
|Employer||Patomak Global Partners|
Daniel M. Gallagher, Jr. is president of Patomak Global Partners, LLC, a Washington, DC-based financial services consulting firm specializing in regulatory advice, risk management and compliance services, and enforcement and litigation support. He joined the firm in January 2016, three months after stepping down from his position as a commissioner at the Securities and Exchange Commission.
The Commissioner Years, 2011-2015
Gallagher was confirmed by the United States Senate as a commissioner of the Securities and Exchange Commission on October 21, 2011 and sworn in on November 7, 2011. He resigned from his post in May 2015, saying he would remain on the commission until his successor was confirmed; however, in September of 2015 he said he would leave on October 2 even if no successor had been confirmed.
At the agency, Gallagher, a Republican, focused on strengthening U.S. capital markets and encouraging small business capital formation. He has strongly supported the changes introduced by the JOBS Act. He has also advocated conducting a comprehensive review of equity market structure issues; increasing the commission’s focus on the fixed income markets; addressing the outsized power of proxy advisory firms; and eliminating special privileges for credit rating agencies. He has been a critic of many of the rules required by Dodd-Frank and frequently rapped the Federal Reserve for trying to impose its oversight on firms traditionally regulated by the SEC, and he voted “no” on 16 major Dodd-Frank rulemakings.
He also clashed with former SEC Chairman Mary Schapiro on policy, but has a less-strained relationship with the current SEC chief, Mary Jo White. He was instrumental in negotiating a compromise overhauling rules for money-market mutual funds in July 2014, which passed during White’s tenure. 
The Early Years - From SEC Intern to Legal Career
Gallagher first joined the commission as a summer honors program intern while pursuing his law degree, focusing on enforcement. In January of 2006, he rejoined the agency, serving first 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 that time, Commissioner Gallagher helped lead the agency’s response to the financial crisis. He represented the commission in the Lehman Brothers liquidation, and also helped the agency address related issues, including the move to central clearing of swaps and matters involving SIPC. 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.
Gallagher began his career in the private sector at the Washington, D.C. law firm WilmerHale, where he advised clients on broker-dealer regulatory issues and represented clients in SEC and SRO enforcement proceedings. He 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.
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.
- About Us. Patomak Global Partners.
- Ex-SEC Official Gallagher Joins Regulatory Consultant. Wall Street Journal.
- SEC Biography: Commissioner Daniel M. Gallagher. SEC.
- Statement of Commissioner Daniel M. Gallagher. SEC.gov.
- SEC’s Gallagher to Resign as Commissioner After Four Years. Bloomberg.
- SEC Member Daniel Gallagher to Leave Agency Next Month. The Wall Street Journal.
- SEC's Daniel Gallagher resigning as commissioner. Investment News.