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U.S. Securities and Exchange Commission

Statement of the Securities and Exchange Commission on the Death of Former Commissioner James J. Needham

FOR IMMEDIATE RELEASE
2007-65

Washington, D.C., April 12, 2007 - The Commission released the following statement on the death of former Commissioner James J. Needham:

STATEMENT OF THE SECURITIES AND EXCHANGE COMMISSION

April 12, 2007

Christopher Cox, Chairman
Paul S. Atkins
Roel C. Campos
Annette L. Nazareth
Kathleen L. Casey

The Commission notes with great sadness the death on Friday, April 6th, of James J. Needham, who served as a Commissioner from July 10, 1969, to July 14, 1972. Mr. Needham was the first Commissioner who had been a practicing public accountant, and he often spoke of the need to make improvements in accounting principles, procedures, practices and financial reporting. He was particularly active in the areas relating to the structure and composition of the securities markets, and he was a strong proponent of fully automated markets. He frequently spoke about the need for vigorous self-regulation in the securities industry, subject to appropriate federal oversight. He was also a strong advocate for adequate Commission resources. His contributions to the public interest and the objectives of securities regulation will be long remembered. The Commission and its staff extend their deepest sympathy to Mr. Needham's family and his many friends.

 

http://www.sec.gov/news/press/2007/2007-65.htm


Modified: 04/12/2007