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March 5 (Bloomberg) -- Former U.S. Securities and Exchange Commission member Annette Nazareth has taken herself out of the running to be deputy Treasury secretary, according to people familiar with the matter.
Nazareth, who hadnât been nominated, was warned that her SEC work would be assailed at Senate confirmation hearings, the people said. Before becoming a commissioner, Nazareth was head of the SECâs market regulation division where she helped design an oversight regime that has been criticized for missing Wall Streetâs excessive risk taking.
Nazarethâs decision is a setback for Treasury Secretary Timothy Geithner, who is without any confirmed senior aides as he grapples with the global financial crisis. Caroline Atkinson, an official at the International Monetary Fund, also withdrew from consideration as undersecretary for international affairs, said a person familiar with the matter.
March 5 (Bloomberg) -- Former U.S. Securities and Exchange Commission member Annette Nazareth has taken herself out of the running to be deputy Treasury secretary, according to people familiar with the matter.
Nazareth, who hadnât been nominated, was warned that her SEC work would be assailed at Senate confirmation hearings, the people said. Before becoming a commissioner, Nazareth was head of the SECâs market regulation division where she helped design an oversight regime that has been criticized for missing Wall Streetâs excessive risk taking.
Nazarethâs decision is a setback for Treasury Secretary Timothy Geithner, who is without any confirmed senior aides as he grapples with the global financial crisis. Caroline Atkinson, an official at the International Monetary Fund, also withdrew from consideration as undersecretary for international affairs, said a person familiar with the matter.
