June 1 (Bloomberg) -- William Donaldson, chairman of the U.S. Securities and Exchange Commission, plans to resign as the top regulator for the world's biggest financial market on June 30, people briefed on his decision said today.

Donaldson, who turns 74 tomorrow, has notified President George W. Bush of his decision and the White House may publicly announce the resignation as soon as today, said the people, who asked not to be named.

To contact the reporters on this story: Robert Schmidt in Washington at rschmidt5@bloomberg.net; Otis Bilodeau in Washington at obilodeau@bloomberg.net.

Last Updated: June 1, 2005 12:42 EDT