January 28, 2008

Lone Democratic SEC commissioner to leave

WASHINGTON (Reuters) - The only Democratic commissioner at the Securities and Exchange Commission, Annette Nazareth, set January 31 as the day she intends to leave the agency, a spokeswoman in her office said on Tuesday.

The former SEC staffer and Wall Street lawyer said several months ago she planned to step down but had not set a date.

Her exit will leave the investor protection agency and market watchdog with three Republicans at its helm until the White House nominates two new Democratic commissioners.

The other Democratic commissioner, Roel Campos, left last fall for a law firm. Shortly after, Nazareth said she was leaving the agency to return to the private sector.

The three Republicans left on the five-member panel are Chairman Christopher Cox, Paul Atkins and Kathleen Casey.

The White House has yet to nominate new Democratic commissioners, who would have to be confirmed by the Senate.

"We are working as quickly as possible to make sure these positions are filled," said a spokeswoman for the White House, who would not provide a specific timeframe.

About three months ago, Senate Majority Leader Harry Reid recommended two former SEC officials to fill the spots -- Elisse Walter and Luis Aguilar.

Walter, an executive vice president with the Financial Industry Regulatory Authority, was deputy director of the SEC's corporation finance division.

Aguilar, a partner at law firm McKenna Long & Aldridge, was a lawyer at the SEC.

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