Commission Statement on the Passing of Jacob Stillman

Jacob (Jake) Stillman, who served the Commission for 55 years, including 17 as Solicitor, passed away last week. He was man of great character, a lawyer with unparalleled knowledge of the securities laws, and a beloved colleague.

Jake was born in February 1934, just four months before the passage of the Securities Act of 1934. He began his tenure in government service as an officer in the U.S. Army Judge Advocate General’s Corps and then served as a law clerk for Judge Harry E. Kalodner of the U.S. Court of Appeals for the Third Circuit before joining the Commission’s Office of the General Counsel in 1962. For the next five decades, a period that spanned 11 administrations and included numerous innovations in the structures of our securities markets, Jake faithfully served the Commission. His devotion to the Commission’s role in protecting investors was a hallmark of Jake’s tenure, and his careful analysis of complex legal issues furthered the Commission’s role in maintaining fair and transparent capital markets.

Over the course of his career, Jake received numerous awards, among them the Federal Bar Association’s 48th Annual Justice Tom C. Clark Award for Outstanding Government Lawyer. He also was honored by his peers with the William O. Douglas Award, granted by the Association of Securities and Exchange Commission Alumni. We are grateful for all Jake’s contributions to the work of the Commission, and mourn his passing.