SEC Officials to Step Aside, Make Way for New Administration

Lora Bentley

While President-elect Obama continues to announce his cabinet picks, the Securities and Exchange Commission's chief accountant has announced he will step down.

 

WebCPA reported Monday that Conrad Hewitt, who has served for more than two years, will leave the agency next month when the new administration moves in. SEC Chairman Christopher Cox and corporate finance director John White will also be moving on. Of his time with the SEC, Hewitt said, in part:

I'm proud of our office's accomplishments and the steps we have taken to improve financial reporting transparency in these difficult economic times. ... I will miss the relationships we have forged while working together to solve a number of difficult problems.

Hewitt was a key part of the effort to move the U.S. toward International Financial Reporting Standards.



Add Comment      Leave a comment on this blog post
Dec 1, 2008 8:52 AM Dave Williams Dave Williams  says:
Thanks GOD these morons are leaving! Reply
Dec 1, 2008 9:23 AM Tim Tim  says:
I wish they would all leave today. Why Cox has not been fired or forced to resign yet is beyond me. Reply
Dec 1, 2008 10:08 AM Dave Williams Dave Williams  says:
Cox has killed this country Reply
Dec 5, 2008 8:28 AM DifferentDrummer DifferentDrummer  says:
It's not just Cox' fault. The SEC was just as much of a joke under the Democrat Levitt. It's easy and popular to blame Cox and the Bush administration for everything that's gone wrong.Don't forget Franklin Raines and Jamie Gorelick, and how they led FNMA on the wild and corrupt ride which led us to this crisis.I've worked at the SEC for over two decades and you can't believe how much Levitt was despised by employees. We unionized on his watch since morale was in the tank.A merger with another agency might be good since it could break the haughty, arrogant culture which has always infected the SEC, and which has been encouraged and fostered by a whole slew of appointed officials and political and career opportunists who used the SEC to their own advantage and not for the public interest. Reply

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