Al Dandridge Quoted in Press about SEC Changes

Schnader partner Albert Dandridge III, a former associate director at the Securities and Exchange Commission (SEC), recently commented on the news that SEC Chair William H. Donaldson, appointed by President Bush to restore confidence in a stock market shaken by corporate scandals, had announced his resignation. (Donaldson, considered one of the most activist chairs in the history of the agency, said he wanted to return to the private sector and have more time for his family.)

Dandridge, quoted in an Associated Press story published locally as “Head of SEC leaving in June” in The Philadelphia Inquirer on June 2, said he thought Donaldson “has done a fantastic job. To react the way he has had the agency reacting to Enron, Global Crossing, and the rest of the scandals has been phenomenal.”

And, in a June 6 article in The Legal Intelligencer, “Taking Stock in SEC Chief,” Dandridge said lawyers should not be too quick to predict future plans of U.S. Rep. Christopher Cox (R-Calif.), President Bush’s nominee (pending Senate confirmation) as his replacement. “One would think he would be more business-friendly than Donaldson wound up being just based on his background,” Dandridge said. “I know that is the expectation of the business community. But I think circumstances will ultimately wind up dictating what challenges he faces and what his focus will be.”