Amid growing rumors that SEC Chairman William Donaldson may not reach end of term in 2007, prominent business groups are pressuring the Bush administration to weaken the Security and Exchange Commission’s ability to censure wayward financial service companies, The Associated Press reports.

The demands, ranging from a pro-business appointment in the SEC’s upper-management to a substitute for Donaldson, are coming at a critical time when the Commission is struggling to get its arms around a brood of high-profile scandals.

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