June 04, 2021

Toomey Statement on SEC Firing PCAOB Chairman

Washington, D.C. – U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) released the following statement after the Securities and Exchange Commission (SEC)—under Chairman Gary Gensler’s leadership—terminated Public Company Accounting Oversight Board (PCAOB) Chairman William Duhnke and announced its intention to fill all five PCAOB seats.

“The unwarranted firing of Chairman Duhnke prior to the expiration of his term and the SEC’s plan to replace all of the PCAOB’s remaining board members is unprecedented and deeply troubling. SEC Chairman Gensler appears to have caved to the demands of liberal political activists. It’s hard not to infer from this that Chairman Gensler intends to politicize the previously apolitical PCAOB.”