Securities and Exchange Commission Nomination of Philip A. Loomis, Jr., To Be a Member.

The President today announced that he will nominate Philip A. Loomis, Jr., for reappointment as a member of the Securities and Exchange Commission (SEC) for a term expiring June 5, 1984. Loomis has been with the SEC since 1954 and has been a Commissioner since 1971.

He was born June 11, 1915, in Colorado Springs, Colo. He received an A.B. from Princeton University in 1938 and an LL.B. from Yale Law School in 1941. He was with the Office of Price Administration from 1942 to 1944 and served as associate counsel to Northrop Aircraft from 1944 to 1946.

From 1946 to 1954, Loomis practiced law in Los Angeles. He joined the SEC in 1954 and served as special consultant on the revision of SEC rules and regulations until 1955. From 1955 to 1963, he served as Associate Director, then Director, of the Division of Trading Exchanges (now Trading and Markets).

From 1955 to 1963, Loomis was General Counsel to the SEC. In that capacity, he drafted the 1960 amendments to the Investment Advisory Act of 1940 and had the primary staff responsibility for the legislation which became the Securities Acts Amendments of 1964. He also supervised the staff work on the legislation which became the Securities Investor Protection Act of 1970.