November 1, 2005

Oxley won’t seek re-election in 2006

WASHINGTON (Reuters) - U.S. Rep Michael Oxley, chairman of
the powerful House Financial Services Committee and an Ohio
Republican, said on Tuesday he would not seek re-election in
2006, after serving 25 years in Congress.

Oxley, 61, became chairman of the House Financial Services
Committee in 2001 as the committee's jurisdiction was expanded
to include securities and insurance issues in addition to
banking matters.

Oxley co-sponsored the 2002 Sarbanes-Oxley legislation
which called for more accountability and transparency in U.S.
companies after a string of corporate scandals.