U.S. Securities and Exchange Commission Republican member Daniel Gallagher is expected to resign from his post at the agency, Bloomberg reported on Tuesday, citing anonymous people familiar with the matter.
Bloomberg said Gallagher, 42, will remain on the job until a replacement is named by the White House. Gallagher has served as a commissioner since 2011, when he was confirmed by the Senate. Bloomberg reported that the White House has already identified candidates to fill both Gallagher's seat, as well as Luis Aguilar, the Democratic commissioner whose term expires next month.
Reuters could not immediately verify the authenticity of the report. A staffer for Gallagher declined to comment.
-Additional details added by Megan Leonhardt.