David S. RuderDAVID S. RUDER - 2007 ASECA is proud to announce that David S. Ruder, former SEC Chairman and Professor of Law Emeritus at Northwestern University School of Law, has been selected as the fifteenth recipient of the William O. Douglas Award. The Douglas Award, instituted by ASECA in 1992, is conferred annually on an SEC alumnus who has contributed to the development of the federal securities laws and served the financial and SEC community with distinction. Professor Ruder served as SEC Chairman from August 1987 to October 1989. As Chairman, he dealt with the October 1987 stock market crash, supervised the SEC enforcement action against Drexel Burnham Lambert, initiated a penny stock fraud program, and enlarged SEC initiatives in international securities regulation. Professor Ruder joined the faculty of Northwestern University School of Law in 1961 and served as Dean from 1977 to 1985. He supervises Northwestern's administration of the San Diego Securities Regulation Institute, the Ray Garrett Jr. Corporate and Securities Law Institute, and the Northwestern Corporate Counsel Institute. Since 2000, Professor Ruder has served as Chairman of the Mutual Fund Directors Forum, which provides education to independent mutual fund directors. He is a member of the Advisory Council of the Public Company Accounting Oversight Board. In past year,s he has served as Trustee of the International Accounting Standards Committee Foundation and the Financial Accounting Foundation, member of the Board of Governors of the NASD, and Chairman of the NASD's Legal Advisory Board. From 1999 to 2004, he was founding chairman of the Board of Trustees of the SEC Historical Society. Professor Ruder passed away in 2020.
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