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On January 30, the Securities and Exchange Commission announced that National Credit Union Administration (NCUA) Chairman Kyle Hauptman had been appointed to the board of the Public Company Accounting Oversight Board (PCAOB). The PCAOB, a congressionally chartered organization, is responsible for regulating and inspecting auditors of public companies and broker-dealers. Chairman Hauptman’s appointment is not the only personnel change to the organization at this time: the PCAOB will now be led by Demetrios (Jim) Logothetis, with three new individuals, including Chairman Hauptman, joining as board members.
While Chairman Hauptman’s term at the NCUA has expired, he has stated that he will continue serving as chairman until President Trump nominates a replacement who is confirmed by the Senate. While Chairman Hauptman is one of a few new PCAOB board members, he currently remains the sole member of the NCUA board.