November 1, 2005
JS-3007

Statement of Treasury Secretary John W. Snow on
Retirement of House Financial Services
Chairman Michael G. Oxley

As Chairman of the House Financial Services Committee, Mike Oxley oversaw a critical period for our nation's financial markets. The landmark corporate responsibility legislation enacted under his leadership – and which bears his name – shored up investors in the face of events which shook their confidence. In addition, his hard work to establish greater transparency and increased disclosures for mutual fund investors provided greater protections and investment security for millions of Americans. And in the wake of September 11, he led the Committee's efforts to swiftly strengthen anti-money-laundering measures and provide law enforcement with better tools to fight the financing of terrorism.

He has well served the people of the 4th District of Ohio in his quarter-century of public service. I commend Mike for his wise oversight for America's financial consumers as chairman of the House Financial Services Committee.