PEOPLE : Time Warner’s Lochner Nominated for SEC Post
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Philip R. Lochner Jr., general counsel of Time Warner Inc., has been nominated by President Bush to fill a vacancy on the five-member Securities and Exchange Commission.
The nomination to the body that regulates the nation’s stock and bond markets is subject to confirmation by the Senate.
“Phil Lochner has an excellent resume. He appears to have the potential to make an outstanding SEC commissioner,” said Sen. Donald W. Riegle Jr. (D-Mich.), the chairman of the Senate Banking Committee, which will consider the nomination.
Reached at Time Warner’s offices in New York, Lochner declined comment.
If confirmed by the Senate, Lochner would serve out the remaining 17 months of the term of David S. Ruder, who stepped down last year and was succeeded as SEC chairman by Bush aide Richard C. Breeden.
Breeden, who was a colleague of Lochner’s when both were in private practice at the New York law firm of Cravath, Swaine & Moore, hailed the nomination.
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