Robinhood's CLO Named as Potential SEC Chair Candidate in Trump's Win

Politico reports that Dan Gallagher, Robinhood's chief legal officer (CLO), is a top contender to lead the U.S. Securities and Exchange Commission (SEC) if former President Donald Trump is re-elected. This news comes after the SEC issued a Wells notice to Robinhood. Sources familiar with the matter, including former regulators, lobbyists, and others, shared this information with Politico. Gallagher's potential appointment has sparked discussions within the financial industry. Gallagher's background in both the public and private sectors may influence his approach to SEC regulation if appointed. Before joining Robinhood, he served as a commissioner on the Commodity Futures Trading Commission (CFTC) during the Trump administration.