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Unger Named Interim SEC Chair WASHINGTON, D.C., Feb. 15, 2001 (SmartPros) Temporarily ending rampant media speculation about who will replace Arthur Levitt as chairman of the Securities and Exchange Commission, President Bush this week designated Laura S. Unger as Acting Chair of the U.S. Securities and Exchange Commission.
According to a report by AccountancyMagazine.com, 40-year-old Unger is the only Republican on the panel and the second woman ever to be appointed acting head of the SEC. No woman has been designated the role for a full term. Unger's position as commissioner expires in June, according to the report. Prior to joining the SEC in 1987, she served as counsel to the Banking Committee and as an attorney with the SEC's enforcement division, AccountancyMagazine.com said. After nearly eight years on the job, Levitt, the longest-serving SEC chair, stepped down as chairman on Feb. 9. While the recent "Regulation FD" has received the most media mention of late, Levitt is most likely to be remembered among members of the accounting profession for his controversial efforts to modernize auditor independence regulations, which resulted in a November rule that curbed the amount of consulting work auditors can provide to their audit clients. AccountancyMagazine.com last week cited reports of a short list for the permanent appointment that included Donald Marron, chairman of Paine Webber Group; former litigation lawyer and California Republican Chris Cox; James Dotty, partner at law firm Baker Botts and a former SEC general counsel; and former SEC official William Heyman. -- SmartPros News Staff Send comments to information@smartpros.com 2001, Smartpros Ltd. All Rights Reserved. |
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