The Managed Funds Association (MFA) says it is surprised that SEC Chairman William Donaldson is steping down before the end of the year. Donaldson announced yesterday his intention to resign at the end of June.
“MFA established a productive working relationship with Chairman Donaldson and his staff over the past two years,” says MFA President, John G. Gaine. “He came to the Commission at a most challenging time, and had a significant impact during his tenure. In this time of change and growth in the investment industry, MFA looks forward to continuing to work with Chairman Donaldson’s successor and is confident that the White House will choose an equally experienced and capable leader. We wish Chairman Donaldson all the best.”