Toomey Statement on SEC Firing PCAOB Chairman
Washington,
D.C.
– U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) released the
following statement after the Securities and Exchange Commission (SEC)—under
Chairman Gary Gensler’s leadership—terminated Public Company Accounting
Oversight Board (PCAOB) Chairman William Duhnke and announced its intention to
fill all five PCAOB seats.
“The unwarranted firing of Chairman Duhnke
prior to the expiration of his term and the SEC’s plan to replace all of the
PCAOB’s remaining board members is unprecedented and deeply troubling. SEC
Chairman Gensler appears to have caved to the demands of liberal political
activists. It’s hard not to infer from this that Chairman Gensler intends to
politicize the previously apolitical PCAOB.”
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