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U.S. Chamber Statement on SEC Chairman Retirement

Tuesday, May 31, 2005 - 8:00pm

WASHINGTON, D.C. – United States Chamber of Commerce President and CEO Thomas Donohue, reacting to news that SEC Chairman William Donaldson would leave the SEC later this month, said:

"William Donaldson came to the SEC at a critical time – his job was to restore trust and confidence in our capital markets.

"His successor will need to focus on ensuring the future competitiveness of our markets. We must have markets where good ideas are rewarded; where entrepreneurs can take risks, and create wealth and prosperity for the economy.

"We need modern, effective regulations that foster innovation and growth. We need to ensure that our regulatory and enforcement regimes support those goals with transparency, stability and fairness."

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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