WEST PALM BEACH, FL (www.hedgeco.net) – The U.S. Securities and Exchange Commission Chairman William H. Donaldson announced his retirement from the agency effective June 30, 2005. In his resignationremarks, Donaldson said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdWhen I assumed the Chairmanship of the Securities and Exchange Commission roughly two and one-half years ago, public confidence was severely undermined, reflecting thecorporate and financial scandals that had shaken the nation.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Donaldson continued by praising his staff, he added, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdThanks 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.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
The SEC boss had previously criticized his two republican members of the Commission who said the Chairman\u00c3\u00af\u00c2\u00bf\u00c2\u00bds enforcement policies were too heavy handed, obviously referring to the new hedge fund laws introduced and pushed through by him. Mr. Donaldson\u00c3\u00af\u00c2\u00bf\u00c2\u00bds resignation opens the door for President Bush to nominate his successor. It is widely believed that the President will nominate another republican from California, Representative Christopher Cox, 52, to succeed Mr. Donaldson. Mr. Cox has been very instrumental in rewriting the U.S. Securities law, making it harder for investors to file lawsuits in the financial markets arena. Mr. Cox was not available for comments.<\/p>\n
Many corporate leaders have criticized SEC\u00c3\u00af\u00c2\u00bf\u00c2\u00bds heavy handed enforcement action, the Business Roundtable, comprising of the Chief Executives of some of the Nation\u00c3\u00af\u00c2\u00bf\u00c2\u00bds largest corporations have criticized SEC\u00c3\u00af\u00c2\u00bf\u00c2\u00bds actions in the area of corporate fraud. Many of the executives believe that Donaldson\u00c3\u00af\u00c2\u00bf\u00c2\u00bds policies have been more burdensome than helpful.<\/p>\n
Last year two democratic members of the Commission joined with Donaldson to pass the new U.S. Hedge Fund laws. While the new laws are slated to fully go into effect early next year the final faith of the hedge fund laws may be determined by the U.S. Courts. Currently a New York based hedge fund managers has challenged the legitimacy of the new laws.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
HedgeCo.Net is the most popular hedge fund database and community in the world. Membership on HedgeCo.Net<\/a> is free and easy. We also offer free listings for Hedge Funds!<\/font><\/b><\/p>\n Be sure to check out our sister sites. www.hedgefundlounge.com<\/a>, www.hedgefundtools.com,<\/a><\/strong> and www.hedgefundemployment.com.<\/strong><\/a><\/font><\/b><\/p>\n","protected":false},"excerpt":{"rendered":" WEST PALM BEACH, FL (www.hedgeco.net) – The U.S. Securities and Exchange Commission Chairman William H. Donaldson announced his retirement from the agency effective June 30, 2005. In his resignationremarks, Donaldson said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdWhen I assumed the Chairmanship of the Securities and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3149","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3149"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3149\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}