SEC Chairman William Donaldson to resign

Securities and Exchange Commission Chairman William Donaldson, picked by President Bush to restore confidence in a stock market shaken by a wave of corporate scandals, announced Wednesday that he will resign from the agency at the end of the month, raising questions about whether the agency will press ahead with its reform agenda.

Donaldson, who will turn 74 on Thursday, said he will leave by the end of the month. He was considered one of the most activist chairmen in the history of the regulatory agency. In a statement, Donaldson said he believed "the time has come for me to step down and return to the private sector and my family."

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