New SEC Begins to Take Shape

The shape of the post-Bill Donaldson Securities and Exchange Commission is becoming clearer. On July22, President Bush nominated two people to fill the "Democratic" seats on the commission: Roel Campos, who has been a commissioner since 2002, was nominated for a term expiring June 5, 2010; and Annette Nazareth, chief of the SEC division of market regulation, who was named to serve the remainder of the five-year term of Commissioner Harvey Goldschmid, who became a commissioner in 2002 but is returning to his position as Dwight Professor of Law at the Columbia University School of Law. The Republican members of the commission, also appointed in 2002, are Paul Atkins and Cynthia Glassman. Glassman has been serving as acting commissioner since Donaldson's resignation became effective on June 30.

The Senate is scheduled to hold hearings on the two nominations and on the President's choice to succeed Donaldson as chairman of the commission–Rep. Christopher Cox of California– on July 26.