Frank Wheat was one of CLIPI’s longest serving trustees, starting in the early 1970s.
Wheat was widely known for his work in the securities industry and his passion for desert protection.
After naval service in World War II, Wheat graduated from Harvard Law School and became a partner at Gibson, Dunn & Crutcher in Los Angeles.
Wheat was a member of the Securities and Exchange Commission from 1964 to 1969. He directed the 1969 “Wheat Report,” a landmark SEC study to overhaul corporate disclosure rules, emphasizing greater transparency and laying the groundwork for today’s integrated disclosure system.
Wheat also co-chaired the California Commission on Campaign Financing and was an early member of the California Citizens Budget Commission. He was a member of the Board of Governors of the NASD and a member of the New York Stock Exchange Legal Advisory committee. In the mid-1970s, Wheat served as President of the Los Angeles Country Bar Association.
At a CLIPI dinner honoring Wheat, former Secretary of State Warren Christopher praised his “unique dedication to public affairs.” Wheat’s 1999 book, California Desert Miracle, recounted his crucial role in securing the passage of the California Desert Protection Act, which preserved much of the Mojave as wilderness and increased the size of Death Valley and Joshua Tree national parks.
