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Securities Industry Association Statement On SEC Chairman Donaldson’s Retirement

Date 01/06/2005

Securities Industry Association President Marc E. Lackritz today made the following statement in reaction to Securities and Exchange Commission Chairman William H. Donaldson’s announced retirement:

“Chairman Donaldson has been a thoughtful, pragmatic leader who helped to restore the pre-eminence and stature of the SEC,” Lackritz said. “He came to the SEC at a crucial time in its history, and leaves the commission and investors in better shape than when he found them. We appreciate his service to investors and our nation and wish him well.

“We look forward to working with Chairman Donaldson’s successor to help the SEC strike the right balance between effective protection for investors and efficient regulation for the industry.”