Public Papers

Nomination of Richard C. Breeden To Be a Member of the Securities and Exchange Commission, and Designation as Chairman


The President today announced his intention to nominate Richard C. Breeden to be a member of the Securities and Exchange Commission for the term expiring June 5, 1993. He will succeed Charles C. Cox, whose term has expired. Upon confirmation by the Senate, Mr. Breeden will be designated Chairman of the Commission.

Since January 20, 1989, Mr. Breeden has served as Assistant to the President for Issues Analysis. As a member of the White House senior staff, Mr. Breeden has been responsible for in-depth analyses of major issues, such as the problems of the savings and loan industry. Mr. Breeden helped develop the landmark legislation recently signed by the President to overhaul Federal regulation of this industry. From 1982 to 1985, Mr. Breeden served as Deputy Counsel to then-Vice President Bush, during which time he was staff director of the President's Task Group on Regulation of Financial Services. The Task Group was a Cabinet-level group established to recommend methods of improving all Federal financial regulatory programs. From 1981 to 1982, Mr. Breeden served as Executive Assistant to the Under Secretary of Labor. Mr. Breeden was a partner in the law firm of Baker and Botts in Washington, DC, from 1985 until joining the administration in January of 1989. He practiced law in New York City from 1976 to 1981, prior to entering government service. Mr. Breeden's law practice has covered a wide range of securities, banking, and other financial transactions and matters, both in the United States and internationally. He has written a number of articles on regulation of financial institutions, and has lectured both here and abroad on financial markets issues.

Mr. Breeden is a graduate of Stanford University (B.A., 1972) and the Harvard Law School (J.D., 1975). He resides in Great Falls, VA, with his wife Holly and their three sons.