Harvey Goldschmid, one of two Democratic commissioners of the five member SEC, plans to leave the agency between May to August of 2005, confirmed Goldschmid's assistant.

Goldschmid will return to alma mater Columbia, where he was a professor at Columbia Law School prior to taking leave to work at the commission.

The Commissioner joined the SEC in 2002 and will have two more years left in his five-year term when he leaves. "It is my understanding that Commissioner Goldschmid is leaving because his term is up," said Goldschmid's assistant.

Each commissioner is appointed by the President with the approval of the Senate, said SEC spokesman John Heine. The SEC must be made up of no more than three commissioners of one political party.

"We do not have any information at this time" about a nominee, said a White House spokesperson.

Goldschmid sided with fellow Democratic appointee Roel Campos and SEC Chairman William Donaldson in voting for many of the fund reform proposals this year. 

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