Harold Williams, chairman of the Securities and Exchange Commission, has placed most of his personal financial holdings in a blind trust, according to a disclosure report made public recently.
Williams, former chairman of Norton Simon Inc. and dean of the UCLA school of business, reportedly is a millionaire.
However, under the terms of the blind trust neither the value nor the identity of his holdings are made public. Williams, in turn, is not informed about the disposition of his portfolio, which is handled by a trustee.
Williams and other high SEC officials were required to file disclosure statements under the 1978 Ethics in Government Act.
The Williams statement shows that he receives between $50,000 and $100,000 in annual income from the blind trust. Other non-governmental income sources pay him up to $29,000 a year, the report says. His other identified assets include land, oil and gas leases, and real estate investments. Williams lists their value at between $230,000 and $545,000.
Williams is a director, trustee or member of several foundations, including the Harold M. and Estelle F. Williams Foundation of Washington, D.C. The foundation, which the report says was established in 1973, is described simply as a "charitable" institution.
Philip A. Loomis Jr., a commissioner, disclosed that he owns stock in many of the largest U.S. corporations worth well in excess of $1 million. Among his holdings is $250,000 worth of stock in each of two companies, Eastman Kodak Co. and General Electric Co.