SEC Member Pushes Biggs for New Board

John Biggs, a former pension fund executive who was rejected by the Securities and Exchange Commission to run the nation’s new accounting oversight board, still should be considered for the position, SEC Commissioner Harvey J. Goldschmid said Tuesday.

The SEC, in a contentious vote last month, chose former federal judge William H. Webster to head the accounting panel, which was created by Congress in the aftermath of this year’s corporate accounting scandals.

But Webster resigned this month after a controversy over his role as head of the audit committee of a small company that has been accused of shareholder fraud.

The controversy also led to the resignation of SEC Chairman Harvey L. Pitt, who had championed Webster’s nomination and opposed Biggs.

In an interview Tuesday, Goldschmid, who has long supported Biggs for the accounting board, said he remained a “superb candidate.”

“Biggs should remain a leading contender,” Goldschmid said. He also said he would support Paul A. Volcker if the former Federal Reserve chief were willing to take the job. Volcker has said he doesn’t want the job.

The SEC must choose a new chairman of the accounting panel, but the decision is expected to be made only after President Bush names a new SEC chairman.