October 02, 2007

Statement of Senator Dodd, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, on Departure of SEC Commissioner Annette L. Nazareth

Washington, D.C. – Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, made the following statement in reaction to the announcement today that Securities and Exchange Commissioner Annette L. Nazareth intends to leave the SEC: “I commend Annette Nazareth for her years of dedicated public service. Commissioner Nazareth has been a leader at the SEC in working to better protect investors and improve and strengthen our capital markets, including the national market system. I am appreciative of her service to our nation and wish her well in her future endeavors. “America’s securities markets are second to none and play a major role in our nation’s economic well-being. It is critically important that the SEC continue to promote efficiency and investor protection to ensure that investors are treated fairly and capital markets are functioning properly. Strong leadership at the SEC is essential to public confidence in our markets and ensuring that U.S. capital markets remain the heart of global capital formation and the envy of the world.” “As Chairman of the Senate Banking Committee, I look forward to working with the Majority Leader and the President in the selection of nominees to fill the pending vacancies on the Commission who have the integrity, strength of character, expertise, and the wisdom to fulfill the requirements of this vitally important position at the SEC.”