is currently the Dwight Professor of Law at Columbia Law School
Columbia Law School, founded in 1858, is one of the oldest and most prestigious law schools in the United States. A member of the Ivy League, Columbia Law School is one of the professional graduate schools of Columbia University in New York City. It offers the J.D., LL.M., and J.S.D. degrees in...
. From 2002 to 2005, he served as a member of the Securities & Exchange Commission, where, though a Democrat
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
, often sided with chairman William H. Donaldson
William Henry Donaldson was the 27th Chairman of the U.S. Securities and Exchange Commission , serving from February 2003 to June 2005...
. He is also an advisory board member of the Millstein Center for Corporate Governance and Performance at the Yale School of Management
The Yale School of Management is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers Master of Business Administration and Ph.D. degree programs. As of January 2011, 454 students were enrolled in its MBA...
Goldschmid’s role in Securities Regulation
Goldschmid has been recognized as the most influential SEC Commissioner who did not become a Chair in the agency’s history.
Goldschmid's 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, Harvey 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 documentaddressed the business judgment rule and duty of care.