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Rating:Ex-Vanguard CEO Will Help Dissect the Dow's 1,000-Point Dive Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, May 11, 2010

Ex-Vanguard CEO Will Help Dissect the Dow's 1,000-Point Dive

Reported by Armie Margaret Lee

Former Vanguard chairman and CEO Jack Brennan is part of a joint SEC-CFTC committee, unveiled Tuesday morning, that will "address emerging regulatory issues." The first item on the agenda is none other than Thursday's afternoon's market roller-coaster that at one point saw the Dow Jones Industrial Average slide nearly 1,000 points.

Jack Brennan

SEC chairman Mary Schapiro and CFTC chair Gary Gensler will preside over the joint committee.

Aside from Brennan, who relinquished the CEO post at Vanguard to Bill McNabb in August 2008 and the chairmanship in January of this year, there are six other initial members of the committee: FINRA chairman and CEO Richard Ketchum, former SEC chair David Ruder, former CFTC chair Brooksley Born, NYU Stern School of Business' Robert Engle, George Washington University School of Business' Susan Phillips and Cornell University's Maureen O'Hara.

Additonal members will join in the coming days, according to SEC and CFTC officials.  

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