Securities and Exchange Commission Chairman Christopher Cox is losing his "go-to guy" according to CFO.com. Michael J. Halloran will step down next month and return to private life after approximately two years with the SEC.
Halloran serves as deputy chief of staff for the SEC, the story says, and he was instrumental in both implementing Sarbanes-Oxley section 404 and in seeing the Public Company Accounting Oversight Board's Accounting Standard 2 replaced with Accounting Standard 5.
Speaking of Halloran, former SEC Commissioner Roel Campos told CFO.com:
After overcoming initial suspicions about him by investors, Mike Halloran showed himself to be a balanced administrator for the chairman.
There is no word yet as to what the 66-year-old Halloran plans to do next.