United States: SEC Chair Gary Gensler Solicits Nominations For PCAOB Seats

SEC Chair Gary Gensler solicited nominations for all five of the seats on the Public Company Accounting Oversight Board ("PCAOB"), including for the Chair, whom the SEC removed yesterday (see previous coverage here).

The terms of the various seats will expire as follows:

• Seat 1 on October 24, 2022;
• Seat 2 on October 24, 2023;
• Seat 3 on October 24, 2024;
• Seat 4 on October 24, 2025; and
• Seat 5 on October 24, 2021, with the next five-year term set to expire on October 24, 2026, meaning the candidate selected for this seat may be appointed to serve both terms.

The Office of the Chief Accountant will administer the process for the selection of PCAOB members.

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