Commissioner Nazareth announces intention




WASHINGTON, Oct. 2 (Xinhua) -- U.S. Securities and Exchange Commissioner (SEC) Annette L. Nazareth announced her intention on Tuesday to leave the Commission to return to the private sector.

    In her nine years at the Commission, as a Commissioner and previously as Director of the SEC's Division of Market Regulation, Nazareth has applied her financial markets expertise to a broad range of issues affecting investors and the securities markets.

    The Commission adopted a number of significant reforms during her tenure. In particular, Nazareth played a key role in the Commission's efforts to modernize its national market system rules, said a statement released by the SEC.

    Nazareth also played a key role in the Commission's response to the tragic events of Sept. 11, 2001. As Director of the Division of Market Regulation at the time, she helped lead the Commission's efforts to assure the successful reopening of the securities exchanges, said the statement.

    "Over nearly a decade of public service, Annette Nazareth has dedicated herself to the causes of investor protection and the improvement of our capital markets," said SEC Chairman Christopher Cox."

    Prior to joining the Commission, Ms. Nazareth held several positions in the financial services industry, including at Smith Barney, Lehman Brothers and Mabon Nugent. She began her career as an attorney at Davis Polk & Wardwell. She is a graduate of Brown University and Columbia University School of Law.

    Nazareth has not set a date for her departure from the Commission, but has notified President Bush that she does not wish to be re-nominated. Her term ended on June 5, 2007, but Commissioners may remain in their positions for up to 18 months beyond a term's end, unless a successor is appointed sooner.