Bush nominates Campos, Nazareth to U.S. SEC
Posted on: Friday, 22 July 2005, 15:27 CDT
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.
Source: REUTERS
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