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Sarbanes-Oxley News & Developments
New SEC Chief Plans To Reform Market But First, He Must Do Repair Work Donaldson wants to shape the agency into a nimbler organization.
> > William Donaldson, the new chairman of the SEC, wants to convience investors that markets are not rigged and craft new rules to govern the nations markets. He must first repair the damage done by his predecessor Harvey Pitt to the stature and morale of the agency.
Donaldson delegates SEC management to aides and makes sure other commissioners have a voice in the agency. A smooth-running SEC also sends a message to public companies, he believes: The corporate cops are not spending all their time fighting among themselves; they are back on the beat. The challenge will be restoring confidence in the system.
A wave of corporate scandals caught the SEC by surprise, and now NY Attorney General Eliot Spitzer is cracking down on Wall Street conflicts of interest.
Source: The Wall Street Journal article
Published:2003-06-06
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