SEC Member Marinaccio to Step Down

Charles L. Marinaccio will not seek reappointment as a member of the Securities and Exchange Commission when his term expires June 5, the agency said.

Marinaccio, a lawyer who has worked for the federal government for 24 years, told SEC Chairman John S.R. Shad in a letter dated March 6 that he did not wish to be a candidate for reappointment. Shad acknowledged the letter Tuesday.

Marinaccio, who was a staff assistant on the Senate committee with SEC responsibility until accepting appointment as a commissioner last May 24, said he will enter private practice.

Before his Senate job, Marinaccio had worked at the Justice Department and the Federal Reserve Board. He was appointed by President Reagan to the SEC last May to fill the unexpired term of Barbara Thomas, who resigned.