June 04, 2021

Bloomberg: SEC Ousts Head of Top Audit Regulator Amid Warren Pressure

The Securities and Exchange Commission, led by Chairman Gary Gensler, has fired the U.S.’s top accounting regulator, a move that is certain to please investor advocates and progressives who had demanded an overhaul of the watchdog.

The SEC announced the removal of Public Company Accounting Oversight Board Chairman William Duhnke in a Friday statement. He was replaced on an acting basis with PCAOB board member Duane DesParte.

The change was approved in a vote by Gensler and the SEC’s politically-appointed commissioners. The agency, which currently has three Democratic members and two Republicans, didn’t release a tally. The two GOP commissioners released a statement opposing Duhnke’s termination.


Read full article here. 

By:  Benjamin Bain and Robert Schmidt
Source: Bloomberg