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October 13, 2008 5:17:52 AM CDT

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Remaining Democrat Leaves SEC

Posted Oct 3, 07 11:38 AM CDT in US,  Business 

(Newser) – The Securities and Exchange Commission is down to three lone Republicans after the second Democrat in a month resigned yesterday, MarketWatch writes. Annette Nazareth's departure comes just two weeks after Roel Campos left the 5-seat board. And the single-party rule makes some observers—who fear that the commission will become less proactive on enforcement—twitchy, USA Today reports.

Nazareth and Campos had taken a hard line against their Republican counterparts, especially in favor of enforcing regulations and fining violators. Although the SEC's political diversity is mandated by law—no more than three of five members can belong to one party—the commission often operates with open seats, and no replacements have been named.

Sources MarketWatch, USA Today

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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)
Securities and Exchange Commission (SEC) Chairman Christopher Cox, center, and his fellow commissioners, from left, Annette Nazareth, Paul Atkins, Roel Campos and Kathleen Casey, listen to opening remarks...   (Associated Press)
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SEC  • corporate governance  • Christopher Cox  • Roel Campos  • SEC commissioners


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