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Derek Edward Schloss
Traders Magazine Online News

What the !@#$ is a Security Token?

In this first part of a series, Mr. Schloss will begin to explain what a security token is by explaining how the building blocks of securities law are fundamental to understanding the tremendous value security tokens will one day unlock.

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May 31, 1998

Goldschmid Is Named New General Counsel at the SEC

By Michael L. O'Reilly

The Securities and Exchange Commission named Columbia University law professor Harvey J. Goldschmid its new general counsel.

Goldschmid succeeds Richard H. Walker as the SEC's top lawyer. Walker was recently named the commission's enforcement director, which is widely considered the second most important position at the SEC, after that of chairman.

As general counsel, Goldschmid will be the chief legal officer for the SEC. The general counsel advises the SEC on the legality of its policies and procedures. Goldschmid's office will represent the commission on all actions pending in appellate courts, and advise commissioners on enforcement and rule-making issues. He is expected to join the SEC in July.

"Harvey will be a superb general counsel," said SEC Chairman Arthur Levitt Jr., in a prepared statement. "The breadth of his legal knowledge will be a tremendous asset."

Goldschmid, who has been a Columbia professor since 1970, is also a counsel at Arnold & Porter, a Washington-based law firm.

Goldschmid was a candidate for appointment as an SEC commissioner last year, but was opposed for his past criticism of class-action lawsuits.

The interim general counsel, Colleen P. Mahoney, will return to her position as the SEC's deputy enforcement director in July.