Harvey Goldschmid

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Harvey Goldschmid
Born (1940-05-06) May 6, 1940 (age 74)
New York City
Nationality United States
Fields Corporation law, securities law
Institutions Columbia Law School
Alma mater Columbia Law School
Columbia University

Harvey Goldschmid (born May 6, 1940) is the Dwight Professor of Law at Columbia Law School. From 2002 to 2005, he served as a member of the Securities & Exchange Commission, where, though a Democrat, often sided with chairman William H. Donaldson. He is also an advisory board member of the Millstein Center for Corporate Governance and Performance at the Yale School of Management.[1]

Role in securities regulation[edit]

Goldschmid has been recognized as the most influential SEC Commissioner who did not become a Chair in the agency’s history.[2]

Goldschmid was an advisor and general counsel to SEC Chair Arthur Levitt. Goldschmid supervised the revision of the pivotal SEC Rule of Practice 102(e) and helped draft Regulation FD. SEC Rule of Practice 102(e)(iv), four paragraphs long, articles “improper professional conduct.”

During the chairmanships of Harvey Pitt and Bill Donaldson, Goldschmid continued his service as a Commissioner.

Goldschmid publicly opposed the confirmation of Bill Webster as the first chair of the Public Company Accounting Oversight Board due to issues with the appointment process. Webster was confirmed by a three-to-two vote over Goldschimd's dissent. Later, both Webster and Chairman Pitt resigned.

During the subsequent chairmanship of Bill Donaldson, the Commission budget was expanded. One issue where Goldschmid differed with Donaldson was over shareholder proxy access.

Goldschmid was one of the reporters on the American Law Institute’s (ALI) Principles of Corporate Governance project. Part IV of this document addressed the business judgment rule and duty of care.

References[edit]

  1. ^ Borrus, Amy Borrus; McNamee, Mike; Thornton, Emily (2005-06-13). "Donaldson: A Legacy That May Not Last". BusinessWeek. 
  2. ^ Seligman, Joel (2006). "In Honor of Harvey J. Goldschmid". Columbia Law Review. p. 1479.