July 22, 2005

Bush nominates Campos, Nazareth to U.S. SEC

WASHINGTON (Reuters) - President Bush on Friday nominated
Roel Campos and Annette Nazareth to be members of the U.S.
Securities and Exchange Commission, the White House said,
agreeing to a request from Senate Democrats.

The nominations are scheduled to be considered on Tuesday
by the Senate Banking Committee in a public hearing, along with
Bush's nomination of California Republican Rep. Christopher Cox
to be chairman of the market-regulating SEC.

"We're glad that the nominations are proceeding together
and hope they're confirmed before August, which will keep
balance on the SEC," said New York Democratic Senator Charles
Schumer, a committee member.

Campos is already an SEC commissioner and is being
renominated for another term, which would expire in June 2010.

Nazareth is director of the SEC's division of market
regulation. She is being nominated to fill out a term that
would expire in June 2007. She would replace SEC Commissioner
Harvey Goldschmid, who is resigning.

Both Campos and Nazareth are Democrats.

Following the custom on filling SEC seats, Senate
Democratic leaders in May asked Bush to nominate Nazareth and
Campos. The five-member SEC normally has three members from the
majority party and two from the minority.

The president in June nominated Cox to replace William
Donaldson, who resigned on June 30 after a little more than two
years on the job regulating stock exchanges, corporations,
mutual funds, brokerages and other market sectors.

Two more Republicans remain on the commission: Paul Atkins
and Cynthia Glassman, now serving as acting chairman.

An SEC spokesman declined to comment on the nominations.

The White House also said Bush nominated Martin Gruenberg
as a member and vice chairman of the board of directors of the
Federal Deposit Insurance Corp., which regulates banks and
insures deposits up to $100,000 per depositor.