Hillman Quoted in Bloomberg News on Democratic Representation on SEC

Professor Robert Hillman was quoted in Bloomberg News in an article about Securities and Exchange Commission (SEC) member Annette Nazareth stepping down, potentially leaving the top regulator of U.S. financial markets with no Democratic representation.

Nazareth, 51, who was first appointed in 2005, will leave the SEC to return to the private sector, the agency said in a statement released in Washington today. Roel Campos, the other Democrat on the five-member commission, left last month.

"It should be a priority of the administration to fill these vacancies as soon as possible," said Hillman, who teaches securities law at UC Davis School of Law. "The legitimacy of the SEC is based on the fact that the commission reflects differing political views."

Bloomberg News/October 2, 2007