June 2, 2005 |
President Bush is expected today to nominate Rep. Christopher Cox of Newport Beach as chairman of the Securities and Exchange Commission, replacing William H. Donaldson, who resigned Wednesday after aggressively trying to restore investor confidence shaken by corporate scandals. Bush's choice of Cox to be the nation's top securities cop was confirmed by two senior Republican officials late Wednesday.
May 13, 2005 |
Securities and Exchange Commission Chairman William H. Donaldson on Thursday welcomed a Cisco Systems Inc. plan to create a financial device for valuing employee stock options, saying it has "a lot of potential." For the last decade, Cisco and other technology companies fought a losing battle against rules requiring employee stock options to be treated as an expense. Cisco is seeking permission from the SEC to set a market value on its options by selling a derivative with the same terms.
January 9, 2005 |
When word spread recently that business lobbyists were seeking the ouster of William H. Donaldson, the reform-minded chairman of the Securities and Exchange Commission, the White House wasted no time coming to his defense. "The president appreciates the job Chairman Donaldson is doing," said Scott McClellan, a spokesman for President Bush. McClellan noted approvingly that Donaldson had "worked hard to help us crack down on corporate wrongdoing."
December 16, 2004 |
Aetna Inc. has reached a tentative settlement with investors who accused the company of hiding accounting misstatements when Securities and Exchange Commission Chairman William H. Donaldson led the company, an Aetna spokesman said Wednesday. The agreement must be approved by U.S. District Judge George Daniels in New York, said Aetna spokesman David Carter. Carter declined to say how much the Hartford, Conn.-based insurer is paying to settle the case.
November 4, 2004 |
With the reelection of President Bush, a burst of aggressive rulemaking at the Securities and Exchange Commission over how companies should be governed may be coming to an end. "I think we've done the right things, and I think they've been important to the country, but there is the danger of a backlash" now that Bush is heading into a second term, said SEC Commissioner Harvey J. Goldschmid, the Democratic SEC commissioner who had been viewed as possible chairman in a John F.
July 2, 2004 |
The head of the Securities and Exchange Commission should remove himself from the agency's investigation of accounting at a company where he served on the audit committee, ethics experts said Thursday. To ensure public confidence in the SEC probe, Chairman William H. Donaldson "has to take himself out in a credible way," said Stephen Gillers, a law professor at New York University.