The trade association of the U.S. securities industry has expressed its satisfaction concerning Securities and Exchange Commission chairman William Donaldson’s first year in office.

The Securities Industry Association says that market structure reforms to be unveiled by the SEC tomorrow are the latest in a series of significant initiatives and accomplishments achieved during the first year of Donaldson’s tenure as SEC chairman.

“Bill Donaldson quickly distinguished himself after taking the helm of the SEC as a tough, effective enforcer of the laws protecting investors,” said SIA’s chairman Richard Thornburgh, chief risk officer for Credit Suisse Group.

“Bill’s first year has also been distinguished by the thoughtfulness and vision with which he and his staff have approached many initiatives aimed at strengthening the public’s trust and confidence in U.S. capital markets. The regulatory proposals, for example, to address mutual-fund sales practices and trading activities show a commitment to implementing reforms that ensure that investors’ interests are first and foremost,” he said.

“Additionally, the Donaldson-led SEC is now focusing on the future, looking ahead to anticipate the key issues and provide the right leadership as these challenges emerge. The SEC’s announcement tomorrow of proposals to enhance the efficiency and competitiveness of capital markets is an example of his vision. This is a significant step forward in the effort to modernize the existing regulatory structure in line with significant technological changes and competitive developments in the capital markets,” Thornburgh noted.