WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) released the below statement in response to the decision by the Securities and Exchange Commission (SEC) to terminate Public Company Accounting Oversight Board (PCAOB) Chairman William D. Duhnke III and replace all sitting PCAOB Board Members who have five-year, fixed terms that have not yet expired. Earlier today, SEC Chairman Gary Gensler announced the solicitation of nominations for all five PCAOB seats, continuing the process of stacking the Board with President Biden’s favored appointees.
“The PCAOB is supposed to be an independent body operating outside of partisan politics. SEC Chairman Gary Gensler has bowed to pressure from radical progressives in his decision to remove Chairman Duhnke and replace the current PCAOB Board Members. This decision is both highly inappropriate and downright dangerous to the investment security of middle-class Americans. Chairman Duhnke and the current Board have served the PCAOB effectively, putting their responsibilities above politics. Mr. Gensler would do well to learn from their example in leadership.”
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.