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
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)
camera-icon View 2 more images

(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.