FROM THE OFFICE OF PUBLIC AFFAIRS

June 1, 2005
JS-2482

Statement of Treasury Secretary John W. Snow on the Resignation of SEC Chairman William H. Donaldson

William Donaldson's leadership of the Securities and Exchange Commission during a crucial period for the U.S. financial markets will be remembered as the right leadership at the right time. With Chairman Donaldson at the helm of this critical agency, we have seen the shoring up of investor confidence and an extraordinary strengthening of corporate accountability. His efforts have provided increased protection for investors from unethical activity and enhanced disclosure and transparency to promote stronger corporate governance at mutual funds. He's sought out bad actors, held them accountable and brought them to justice. He has steadfastly pursued reforms to ensure that our nation's financial markets remain strong, fair and accessible for all Americans. Bill has been a highly effective and moral steward of the SEC, and the strength of his leadership will be missed.

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