Steven M.H. Wallman was nominated to be Commissioner of the Securities and Exchange Commission by President Bill Clinton and assumed office on July 5, 1994 following Senate confirmation.
During his tenure, Commissioner Wallman promoted the use of technology to facilitate corporate disclosure and capital raising, and created the Commission's first Advisory Committee on Capital Formation and Regulatory Processes, which recommended changes to facilitate capital formation. He advocated for modernization of U.S. accounting rules and harmonization of international accounting standards and served as the Commission's representative to the the International Organization of Securities Commissions and to the Council of Securities Regulators of the Americas.
Prior to joining the Commission, Mr. Wallman was a partner in the law firm Covington & Burling where he led a rethinking of corporate law focusing on all the constituents of a corporation, including employees, in making corporate control decisions. Before joining Covington & Burling, Mr. Wallman worked briefly at the Boston Consulting Group.
A member of the Washington, D.C. bar, Mr. Wallman received his J.D. from Columbia University School of Law in 1978. He received two degrees from the Massachusetts Institute of Technology, a B.S. in 1975 and M.S. in 1976, from the Sloan School of Management.