MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, May 23, 2005 GOP Senators Troubled by SEC's Donaldson Several Republican senators expressed concern about SEC Chairman William Donaldson's leadership of a divided commission during a hearing of the Banking and Finance Committee, reports the Financial Times. Committee chairman Richard Shelby (R, Alabama), who headed the committee's mutual fund hearings, said that some were troubled about the lack of consensus in votes that were only approved by three commissioners, such as the independent director rule. Committee member Mike Crapo (R, Idaho) expressed similar concerns, who said that he thought the apparent divisions were "disturbing." Donaldson, according to the FT, fought back, comparing his record of consensus-making to his predecessor, Harvey Pitt. Under Donaldson's leadership, 98 percent of 3,000 votes have been unanimous, compared to 99 percent for Pitt. "I want to assure you I have worked very hard to get consensus - very, very hard," Donaldson told the committee. Printed from: MFWire.com/story.asp?s=9732 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |