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."
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.
May 23, 2004 |
When William H. Donaldson was named to lead the Securities and Exchange Commission in late 2002, he faced a panel deeply divided over how to answer corporate abuses that had shocked the public and sparked cries for reform. Two Republicans on the five-member commission were extremely wary of saddling companies with new costs. The two Democrats believed Enron Corp.'s collapse and other debacles dramatized the need for active government efforts to protect investors.
February 14, 2003 |
William Donaldson won Senate confirmation to be chairman of the Securities and Exchange Commission, with instructions from senators to improve efficiency and morale at the agency while restoring confidence in U.S. financial markets. Donaldson, 71, succeeds Harvey L. Pitt, who resigned after criticism that he was too close to the accounting industry and mishandled the process of choosing the head a new accounting review panel. Pitt has stayed on the job until Donaldson could be confirmed.