The White House announced that President George W. Bush has designated Laura S. Unger as Acting Chairman of the U.S. Securities and Exchange Commission.
The temporary appointment of Unger had been expected following former SEC Chairman Arthur Levitt's announcement in December that he intended to leave before the end of his term. Levitt's last day was Friday.
Rep. Michael Oxley, (R-OH), chairman of the House Financial Services Committee, called Unger "a leader in ensuring that investors and market participants gain full advantage of new technologies as they are used in our securities markets."
Unger, whose term as an SEC commissioner expires in June, is the only Republican on the panel. Other members of the panel include Paul Carey and Isaac Hunt, Jr. There are two vacancies on the panel.