SEC Chief Urges Directors to Keep Independence

Corporate directors and financial chiefs must play a stronger role as watchdogs for good governance, Securities and Exchange Commission Chairman William H. Donaldson said Wednesday night.

Donaldson's appearance at Duke University, sponsored by the school's business and law faculties and the New York Stock Exchange Foundation, came a day after jurors convicted former Enron CEO Bernard Ebbers of nine counts of fraud, conspiracy and filing false statements.

During a 20-minute address to about 200 business leaders, Donaldson stressed the need for directors to maintain greater independence from the executives and companies they oversee.

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