SEC Chairman Donaldson will step down

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02 Jun 2005

US Securities and Exchange Commission Chairman William H.

Donaldson, 74, has resigned effective 30 June 2005. He was appointed in 2003. "When I assumed the Chairmanship of the Securities and Exchange Commission roughly two and one-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", Mr. Donaldson said.

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