President Bush has designated Laura Unger acting chairwoman of the Securities and Exchange Commission, replacing Arthur Levitt who stepped down Feb. 9.

Unger was appointed commissioner of the SEC in 1997. That term expires in June of this year. As commissioner, Unger's main focus has been on how technology has affected the securities industry and she has evaluated how the SEC might best use technology to aid investors, according to an SEC statement in May of last year.

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