Clayton Appoints New Board to PCAOB

The SEC appointed five new members to the board of the PCAOB, which oversees the audits of public companies and broker-dealers -- a move that media reports say puts SEC Chairman Jay Clayton’s imprint on the agency. The Wall Street Journal noted that the PCAOB in the past has clashed with the SEC and accounting firms over the pace and emphasis of its rule making and that the appointments mark the first time the SEC did not reappoint board members who remained eligible to serve. The new board members are: William D. Duhnke III as Chairman, J. Robert Brown, Kathleen M. Hamm, James G. Kaiser, and Duane M. DesParte.