TheCorporateCounsel.net

Yesterday, the SEC announced the appointments of Erica Y. Williams as Chairperson and Christina Ho, Kara M. Stein, and Anthony (Tony) C. Thompson as Board members of the PCAOB. The SEC stated that Duane DesParte will continue to serve as a Board member and will remain Acting Chairperson until Erica Williams is sworn in.

Under the Sarbanes-Oxley Act, the SEC has the authority to select the members and the Chairperson of the Board of the PCAOB. As John noted earlier this year, the SEC announced that it had removed PCAOB Chair William Duhnke and had designated Duane DesParte to serve as acting Chair. At the same time, the SEC announced that it was seeking candidates to replace all five current members of the PCAOB Board.

Williams is a partner at Kirkland & Ellis LLP and had previously served in various roles at the SEC and as Special Assistant and Associate Counsel to President Obama.

Ho has held positions with the Treasury Department, University of Maryland, Deloitte & Touche LLP and Elder Research.

Stein served as a Commissioner of the SEC from 2013 to 2019, and has also had roles at the University of Pennsylvania Carey Law School, the Center on Innovation at University of California Hastings Law and on the Hill.

Thompson currently serves as the Executive Director and Chief Administrative Officer of the CFTC, has served in other federal government positions and is an Air Force veteran.

Commissioners Peirce and Roisman, who had expressed concern with the firing of the PCAOB Board back in June, issued a statement expressing support for the new Board.

– Dave Lynn