The Securities and Exchange Commission's search for a replacement for Paul Roye, the departing head of the SEC's investment management division that oversees the $8 trillion mutual fund industry, is still on, according to Dow Jones.

SEC Chairman William Donaldson is believed to have a list of prospective candidates whom he is pursuing. Ranking high on that list is chief counsel at T. Rowe Price, Harry Hopkins, who Donaldson has tried to convince more than once to take up the post. Hopkins, who plans to retire in a few years, is a highly regarded attorney who is also a vice president and director at the Baltimore fund firm. He has made his disinterest in the position clear to the Commission.

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