SEC's Donaldson Has Many Investments, Few Tax-Exempt Bonds

Hume, Lynn
April 2003
Bond Buyer;4/22/2003, Vol. 344 Issue 31619, p5
Trade Publication
The U.S. Securities and Exchange Commission chairman William H. Donaldson and his wife hold relatively few municipal bonds, compared with their holdings in Treasury securities, stocks, real estate, partnerships, and other corporate investments, according to the financial disclosure report they filed with the federal government.Donaldson and his wife listed their assets, income, and liabilities in the 34-page report as of December 16, 2002.Donaldson disclosed receiving $5 million to $25 million of stock options from Aetna Inc. and $250,000 to $500,000 of stock options from Bright Horizons Family Solutions Inc., a corporation of which he is a director. In addition, Aetna has agreed to pay all of Donaldson's attorneys' fees and defense costs from a securities fraud class action suit that was filed against the company and its executives and is still pending, according to the report. As of December 16, 2002, Donaldson was also a member of the advisory board of Silvercrest Asset Management. In addition, he served on the board of Bright Horizons Family Solutions, was trustee for the trust funds of two adult children, and held key positions with 11 nonprofit, educational, advisory, and public interest groups.


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