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Senior Dem at SEC Will Call It Quits

Departure clouds outlook for shareholder input on directors

By Heather McPherson,  Newser User

Posted Aug 10, 2007 7:30 AM CDT
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(Newser) – The SEC's senior Democrat, widely seen as tough on business and pro-shareholder, filed his walking papers yesterday. Roel Campos will quit the five-member panel next month after 5 years on the job and with a proposal pending that allows investors a greater say in appointment of company directors, the Washington Post reports.

The ex-prosecutor is bound for a law firm after a tenure marked by battles over corporate and executive malfeasance, subjecting hedge funds to stricter oversight, and imposing new rules on mutual funds. The term of the SEC's other Democratic member has expired, and she's reportedly on her way out as well.

Securities and Exchange Commission (SEC) Chairman Christopher Cox, center, and his fellow commissioners, from left, Annette Nazareth, Paul Atkins, Roel Campos and Kathleen Casey, wait to testify on Capitol Hill in Washington, Tuesday, June 26,2007, before a House Financial Services Committee hearing. (AP Photo/Susan Walsh)
Securities and Exchange Commission (SEC) Chairman Christopher Cox, center, and his fellow commissioners, from left, Annette Nazareth, Paul Atkins, Roel Campos and Kathleen Casey, wait to testify on Capitol...   (Associated Press)
SEC Commissioners Testify On Oversight Of Financial Markets
SEC Commissioners Testify On Oversight Of Financial Markets   (Getty Images)
Business Leaders Confront Economic Racism
Business Leaders Confront Economic Racism   (Getty Images)
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