SEC chief accountant resigns

Donald Nicolaisen, the chief accountant of the US Securities and Exchange
Commission is to leave his position next month.

Nicolaisen, who joined the SEC in September 2003, is returning to the private
sector. He oversaw much of the implementation of elements of Sarbanes-Oxley
designed to improve financial disclosure and strengthen the audit process, and
helped establish a working relationship with the newly formed Public Company
Accounting Oversight Board.

‘Don Nicolaisen has served with distinction during challenging times, and has
met every challenge – most notably by establishing landmark new protections for
investors during the implementation of Sarbanes-Oxley,’ said SEC chairman
Christopher Cox.

‘I’m pleased that he has agreed to remain at the SEC long enough to help the
agency search for a successor and continue to build on his work for investors
and for all who benefit from healthy capital markets.’

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