Jackson M. Day, Acting Chief Accountant, to Leave SEC


Washington, D.C., March 27, 2003 — The Securities and Exchange Commission announced today that Jackson M. Day, the Commission's Acting Chief Accountant, will be returning to the private sector. Day came to the Commission in September 2000 as Deputy Chief Accountant and was named the Acting Chief Accountant in November 2002. During his tenure, he has participated in running the day-to-day operations of the office, the resolution of accounting, auditing and independence issues, rulemaking projects, and domestic and international private sector standard setting efforts. Day will remain with the Commission for a short period to assist in the selection of and transition to a new Chief Accountant. The Commission also announced today that it will conduct a nationwide search for a Chief Accountant.

In addition to his involvement in numerous policy and regulatory matters, Day has served since June 2002 as Chair of the International Organization of Securities Commissions' Standing Committee No. 1 and has been instrumental in the Commission's efforts to promote international convergence of accounting standards.

"I have appreciated Jackson's advice and counsel during my transition to the Commission," said SEC Chairman William H. Donaldson. "Jackson's willingness to delay his return to the private sector for several months in order to assure continuity and leadership in the Office of the Chief Accountant reflects his dedication to the welfare of investors and to this Agency. His efforts have been critical to the implementation of the Sarbanes-Oxley Act. I will miss Jackson's expertise and the integrity of his views."

"It has been a privilege to play a role in the Commission's important work," Day said. "And it has been a pleasure to work with Chairman Donaldson, Chairman Pitt, the Commissioners, and the talented and dedicated staff at the Commission, especially my colleagues in the Office of the Chief Accountant. I am truly grateful for their confidence and support."

Prior to joining the Commission, Day was a partner in Ernst & Young's National Office of Professional Practice in New York. From 1997 to 1999, he served as a Practice Fellow at the Financial Accounting Standards Board, where he focused on complex and unique accounting issues, worked with senior executives of FASB's constituencies, and coordinated with regulators, including the SEC.

Day, 39, graduated in 1986 from Kansas State University with a B.S. in Business Administration.