The Wall Street Journal-20080122-Nazareth Sets Date for SEC Exit
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Nazareth Sets Date for SEC Exit
WASHINGTON -- The Securities and Exchange Commission is down to three decision-makers -- all Republicans -- now that Democrat Commissioner Annette Nazareth made it official Friday she would leave at the end of the month.
Her departure could stymie future rule-making on controversial issues, as a Democrat-controlled Congress likely would take the agency to task for moving ahead without a full complement of commissioners.
The Senate majority recommended two Democrats -- one regulator and one private lawyer -- to fill the slots vacated by Ms. Nazareth and Democrat Roel Campos, who left in September.
Ms. Nazareth, a Wall Street veteran, had said last year she planned to leave the SEC. She sent a letter to President Bush Friday announcing she would leave on Jan. 31. She is taking a few months off before accepting another position.
