December 18, 2008

CAQ Applauds Nomination of Mary Schapiro to Lead SEC

Washington, D.C. – The Center for Audit Quality (CAQ) has issued the following statement by Executive Director Cindy Fornelli in reaction to today’s nomination of Mary Schapiro as SEC Chairman:

“Mary Schapiro is a talented individual, with an abundance of regulatory experience by virtue of her leadership of the SEC, CFTC and FINRA. 

Having worked with Mary at the SEC, I know her to be a tough, but practical, regulator – which is both a rare combination of qualities and at the core of a skill set that will be of critical importance in guiding the Commission in this challenging economic environment. 

I very much look forward to working with Mary in her new role as SEC Chairman.” 

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The Center for Audit Quality (CAQ) is an autonomous public policy organization serving investors, public company auditors and the capital markets. The CAQ’s mission is to foster confidence in the audit process and to aid investors and the markets by advancing constructive suggestions for change rooted in the profession’s core values of integrity, objectivity, honesty and trust. Based in Washington, D.C., the CAQ is affiliated with the American Institute of Certified Public Accountants. For more information, visit www.thecaq.org

The Council of Institutional Investors (CII) is a nonprofit association of more than 130 public, corporate, and union pension funds with combined assets that exceed $3 trillion. Member funds are major long-term shareowners with a duty to protect the retirement assets of millions of American workers. The Council strives to educate its members, policymakers and the public about good corporate governance, shareowner rights and related investment issues, and to advocate on our members’ behalf. For more information, visit www.cii.org

The CFA Institute Centre develops timely, practical solutions to global capital market issues. Established in 2004, the CFA Institute Centre builds upon the CFA Institute mission to lead the investment profession globally by setting the highest standards of ethics, education, and professional excellence. It carries forward the organization’s 60-year history of standards and advocacy work, especially its Code of Ethics and Standards of Professional Conduct for the investment profession. More information may be found at www.cfainstitute.org.