SEC Chairman Donaldson to Step Down on 30 June

Securities and Exchange Commission chairman, William H. Donaldson, has announced that he will step down on 30 June 2005. Chairman Donaldson is the 27th chairman of the US Securities and Exchange Commission and was appointed by President Bush in 2003. Chairman Donaldson offered the following remarks: “When I assumed the Chairmanship of the Securities and Exchange Commission roughly two and a half years ago, public confidence was severely undermined, reflecting the corporate and financial scandals that had shaken the nation. Thanks to the dedicated efforts of the many professionals who serve at the SEC, this period has represented an extraordinarily active and effective time for the Agency. It may well be remembered as the most consequential and productive period in the Commission’s history since its’ founding in 1934.”

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