PCAOB Member Kathleen Hamm to Be Replaced by White House Aide Rebekah Goshorn Jurata

By:
Chris Gaetano
Published Date:
Oct 15, 2019
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Kathleen Hamm, a cybersecurity expert who had been appointed to the Public Company Accounting Oversight Board (PCAOB) in 2017, will be replaced by Rebekah Goshorn Jurata, who currently serves as special assistant to the president for financial policy, according to CFO.com

While Hamm had been selected to fill the remainder of another board member's term, she nonetheless had anticipated staying for longer, as she had applied for a second five-year appointment. CFO.com said that she had gathered support from groups such as the CFA Institute and the Council of Institutional Investors. The SEC, however, chose to open the position to other applicants, leading eventually to Jurata being selected for the seat. 

Jurata will be more than just a new board member, though. According to the SEC, she will be leading coordination efforts between the board and the SEC's chief accountant, Sagar Teotia. Chairman Jay Clayton said that Jurata "brings significant public service experience, including at the SEC, and a deep understanding of our financial markets, that will complement the skills" of the rest of the PCAOB board members. CFO.com cited corporate compliance expert Matt Kelly a saying that at least part of her appointment could involve being a reliable vote toward softening 404(b) compliance requirements.

Jurata began her professional career as a staff attorney in the SEC’s Division of Trading and Markets, where she focused on broker-dealer regulation, including the Commission’s proposal updating the annual audit requirements for broker-dealers. She subsequently served as counsel to SEC Commissioner Daniel M. Gallagher and then as senior counsel to the House Financial Services Committee. She also served as the deputy assistant secretary for International Finance Markets at the U.S. Department of the Treasury, where she monitored and developed policy responses to international regulatory issues involving banking, securities, commodities, accounting, cybersecurity, fintech, and insurance markets. In her current position as special assistant to the president for financial policy, she is responsible for advising the president and the National Economic Council director on an array of financial services policy matters

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