Democrats Name Choice for Next Vacancy on SEC

Senate Democrats are asking President Bush to nominate Annette Nazareth, the director of market regulation at the Securities and Exchange Commission, to fill an anticipated vacancy on the five-member panel.

Senate Democratic leader Harry Reid of Nevada sent Bush a letter dated Tuesday recommending Nazareth for the position as SEC commissioner, one of two Democratic seats on the panel. Reid also asked the president to name Commissioner Roel C. Campos, a Democrat, to a second term.

“I hope you will agree with me that Ms. Nazareth’s extensive securities experience and her record of public service make her an exceptional choice for this position,” Reid wrote.

By tradition, the White House often accepts recommendations for the Democratic seats from the Senate Democratic leadership.

Nazareth was the choice of Sen. Charles E. Schumer (D-N.Y.), a member of the Senate Banking Committee. He described her Wednesday to reporters as “thoughtful, pragmatic and moderate.”

Schumer said the Democrats had received “initial good vibes” from the White House concerning the recommendation of Nazareth.

She would replace Harvey J. Goldschmid, who plans to leave the SEC in the coming months to resume teaching law at Columbia University.

The five commissioners have split in an unusual alignment over several key issues, with Bush appointee Chairman William H. Donaldson siding with Campos and Goldschmid against the two other Republicans, Paul S. Atkins and Cynthia A. Glassman, as they have voted against some regulatory initiatives.

Nazareth and Campos could not be reached for comment Wednesday evening.