Compliance Week notes that while President-elect Barack Obama has drawn raves for putting together a solid economic team, there's one position that has not been named: Chairman of the SEC. One could argue that this position will prove just as important as the others. There are a host of critical issues that will press the incoming chairman. Sarbanes-Oxley never really emerged as a political issue, and no one really thinks it's in danger, despite the constitutional claim hanging over the PCAOB and Newt Gingrich's campaign. But there are many related issues--small companies and 404 compliance chief among them, the IFRS adoption timetable, the XBRL rollout, various reform possibilities, FAS 157 and the like. On top of all this, there's the general criticism that the SEC just can't keep up with the private sector and the dynamic markets.

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