And that had the backing of the party and I was assigned by the party to work in that along with my duties as educational director of the county organization.

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But although team insiders say there will be no operational changes at Renault as Bob Bell combines the role of team principal with his duties as technical director, it is hard to see how the team will not miss their figurehead, Briatore, and Symonds's tactical nous.

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His duties will be picked up by Deputy Director George Tenet.

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"The executive board has been briefed on this matter, including recently, and continues to express its confidence in the managing director's ability to effectively carry out her duties, " said IMF spokesman Gerry Rice at a press conference on Thursday.

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However, it should still allow the board to exercise its fiduciary duties to the corporation in the event the executive director is not performing to the stated standards.

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Former St Helens boss McRae recently stepped down as director of rugby at South Sydney, five months after being relieved of the coaching duties.

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He also suspended his duties as chairman of the commission's takeover and mergers panel and as a director of the exchange.

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"While today is a good day for law enforcement, it's a disturbing day as well, because we expose the apparent ease with which these Wall Street professionals, corporate insiders, analysts and lawyers disregarded the rules and their duties to clients and shareholders for kickbacks and easy profits, " said Robert Khuzami, the director of enforcement at the Securities and Exchange Commission, which also filed civil charges Thursday.

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