Joseph Grundfest, a Stanford University law professor, and John Mack, former chief operating offices at investment bank Morgan Stanley Dean Witter, rejected the position for unknown reasons, according to the Financial Times.
The delays are a blow to the Bush administration, which has been searching for a replacement for former chairman Arthur Levitt since he announced his resignation in December last year. Bush was forced to make an interim appointment, when he made Laura Unger acting chairman.
Any permanent replacement for Levitt has to be ratified by the US senate and will face a number of difficult decisions surrounding uncertainty in the US economy.
- The SEC has turned down KPMG LLP’s request to the US watchdog to overturn its finding that the Big Five firm violated independence rules in 1995.The Big Five firm was seeking to reverse a ruling that it was wrong to produce an audit report of telecoms company Porta Systems Corp while it had a loan outstanding to an executive at the company.But the SEC said it saw no reason to reconsider the decision.Links
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice