The odds increased earlier this week for Massachusetts Secretary of the Commonwealth William Galvin to continue to be a thorn in the side of the securities industry for another four years.
That's because Mr. Galvin, who has held the office since 1994, fended off a challenge from Boston City Councilor Josh Zakim in a Democratic primary race that turned caustic in its closing weeks,
according to a report by the Associated Press on Boston.com.
Mr. Galvin, 67, earned the ire of of many senior executives at broker-dealers across the country by taking an aggressive stance on securities regulation, imposing fines and taking legal actions against high-profile firms, both during and after the financial crisis. Over one 12-month period six years ago, he ordered fines
totaling at least $56 million against broker-dealers.
In June, Mr. Galvin's future
appeared to be in question. He lost a vote for the state Democratic Party's endorsement during its convention.
At the time, Mr. Galvin seemed confident he would win the primary. He noted that he had lost the state's Dmocratic endorsement twice in the past only to win the general election, where his appeal is broader.
And he easily defeated Mr. Zakim earlier this week. With 641,224 votes cast, Mr. Galvin won 68% to Mr. Zakim's 32%, according to an unofficial tally
posted by the New York Times.
In the November general election, Mr. Galvin will face Republican Anthony Amore, the director of security at Boston's Isabella Stewart Gardner Museum.
Mr. Galvin was not available to comment Thursday morning because he was involved in the recount of a Democratic House of Representative district, said Debra O'Malley, a spokesperson for the office of the Secretary of the Commonwealth.
