Nineteen days after Gerald “Jerry” Rome told his boss in November that he planned to retire as Colorado’s Securities Commissioner, Chris Myklebust accepted the job as Rome’s replacement.
Myklebust had already served as the state’s bank commissioner and the state’s commissioner of financial services. But the sudden hire raised eyebrows, especially those of securities board members who say they were excluded from the hiring process.
Some members, who are responsible for providing oversight to the commissioner, immediately questioned whether Myklebust’s appointment to the civil service role was done legally. There was no job posting, no other candidates and no discussion with the board for a position that in the past took months to fill. And if the hiring is invalidated, there’s a threat that securities cases could be reversed.
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