Fed's McDonough to head new SEC accountancy board

US regulator the Securities and Exchange Commission has voted unanimously to appoint Federal Reserve Bank of New York president William McDonough as chairman of the accounting oversight board.

Source: Associated Press

The Securities and Exchange Commission announced yesterday that it has chosen William J. McDonough, president and chief executive of the Federal Reserve Bank of New York, to head the new agency created by Congress to oversee the accounting industry.

The five SEC commissioners vote