Securities and Exchange commissioner Cynthia Glassman announced that she will not seek reappointment to the five-member panel when her term expires this summer.
Glassman, a Republican, joined the SEC in January 2002 and served as acting chairman in the summer of 2005, before Chairman Christopher Cox received Senate confirmation. While her term ends on June 5, commissioners have been known to stay for up to 18 months beyond a term's completion if they are not replaced.
While sitting on the commission, Glassman championed investor education, enhanced disclosure and increased use of economic analysis in SEC rulemaking
The SEC credited Glassman for an initiative that led to the establishment of an $85 million investor education fund from the 2003 global settlement of research analyst conflict of interest charges involving the nation's largest investment banks. She has also consistently advocated the use of better cost-benefit analysis in SEC decisions to promote more effective investor protection, and improved disclosure to help investors make informed decisions.
Prior to being appointed commissioner, Glassman spent over 30 years in the public and private sectors focusing on financial services regulatory and public policy issues. She served 12 years at the Federal Reserve and spent 15 years in consulting positions in the private sector. Glassman, 59, hasn't announced her post-SEC plans.
