He co-founded D.L.J., the first securities firm to offer shares to the public. As S.E.C. chairman, he pressed for a stronger watchdog role after a series of accounting scandals.

William H. Donaldson, who made an early fortune as a co-founder of the innovative securities firm Donaldson, Lufkin & Jenrette and later pushed for tighter financial regulation as chairman of the Securities and Exchange Commission in the wake of the Enron and WorldCom accounting scandals, died on Wednesday at his home in Westchester County, N.Y. He was 93.

The cause was leukemia, his son Adam said.

Mr. Donaldson also served briefly as an under secretary of state under Henry A. Kissinger, headed the New York Stock Exchange and was chief executive of the insurer Aetna Inc.

In 1975, he was named the founding dean of Yale University’s School of Organization and Management, now known as the School of Management, whose mission of training leaders for

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