The SEC selected Mark W. Olson to be chairman of the Public Company Accounting Oversight Board until 2010. At the time of his appointment, he was a governor of the Federal Reserve Board. Although not a CPA, Olson also was a partner of Ernst & Young and its predecessor, Arthur Young & Company, from 1988 to 1999. Olson succeeds Acting Chairman William Gradison.
Following his nomination as Secretary of the Treasury by President George W. Bush, Henry M. Paulson Jr. was confirmed by the Senate and sworn into office by Chief Justice John G. Roberts Jr. He succeeds John W. Snow.