[Congressional Record Volume 164, Number 79 (Tuesday, May 15, 2018)]
[Extensions of Remarks]
[Page E641]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 RECOGNIZING JACOB STILLMAN, SOLICITOR FOR THE SECURITIES AND EXCHANGE 
                     COMMISSION, ON HIS RETIREMENT

                                 ______
                                 

                           HON. JAMIE RASKIN

                              of maryland

                    in the house of representatives

                         Tuesday, May 15, 2018

  Mr. RASKIN. Mr. Speaker, I rise today to recognize a distinguished 
constituent, Jacob Stillman, Solicitor for the Securities and Exchange 
Commission, who has retired after more than 55 years of devoted and 
exemplary public service with the Commission. Mr. Stillman joined the 
SEC as a staff attorney in the Office of the General Counsel in 1962, 
became an Associate General Counsel in 1978, and served as Solicitor 
from 1999 until becoming Senior Advisor to the Solicitor in 2017. As 
the Commission's chief appellate lawyer, he advised the Commission on 
important legal issues of the day and greatly influenced the 
development of securities doctrine in the federal courts of appeals and 
the Supreme Court.
   His keen legal mind and powerfully lucid legal analysis played a key 
role in advancing the Commission's mission of protecting both investors 
and the integrity of the capital markets. During his years of service, 
Mr. Stillman was deeply involved in articulating and defending the 
legal foundations underpinning the Commission's authority to regulate 
insider trading. He also worked zealously on behalf of investors, 
persuading the courts to accept the Commission's position that the 
securities laws provided investors certain private rights of action. 
And he was instrumental in the Commission's successful effort to 
convince the Supreme Court to accept the fraud-on-the-market theory of 
investor reliance, a theory that reduced hazards in the market and 
greatly enhanced defrauded investors' ability to recover unfair losses.
   Mr. Stillman graduated cum laude from Harvard Law School in 1958 and 
began his legal career as a clerk to the Honorable Harry E. Kalodner of 
the United States Court of Appeals for the Third Circuit. He also 
served as an officer in the Judge Advocate General's Corps of the U.S. 
Army before joining the Commission. He has over the years received 
numerous honors, including the Federal Bar Association's 48thAnnual 
Justice Tom C. Clark Award for Outstanding Government Attorney, the 
Philip A. Loomis Award from the Securities Law Section of the Federal 
Bar Association, and the Distinguished Service Award from the 
Commission itself. Most recently, he was honored with the William O. 
Douglas Award, granted by the Association of Securities and Exchange 
Commission Alumni.
   These many awards illustrate how highly-regarded Mr. Stillman is by 
the bar and by his Commission colleagues. At the peak of his career, he 
served as the investor's advocate and will always be remembered for his 
diligent and creative work. I thank Mr. Stillman for his service to the 
SEC, investors, and the American people.

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