Arthur Levitt
Arthur Levitt
Arthur Levitt Jr.was the twenty-fifth and longest-serving Chairman of the United States Securities and Exchange Commissionfrom 1993 to 2001. Widely hailed as a champion of the individual investor, he has been criticized for not pushing for tougher accounting rules. Since May 2001 he has been employed as a senior adviser at the Carlyle Group. Levitt previously served as a policy advisor to Goldman Sachs and is a Director of Bloomberg LP, parent of Bloomberg News...
NationalityAmerican
ProfessionPublic Servant
Date of Birth3 February 1931
CountryUnited States of America
Once again, stock markets have been threatened with extinction for almost 75 years, and I have found that stock markets are harder to kill than roaches.
The tension between centrality, on the one hand, and competition, on the other, is probably the oldest of all market structure issues.
Promoting the interaction of orders remains one of the most difficult, but crucially important, challenges we face concerning our national market system.
It is time for the U.S. securities market to make this change,
Firms need to ensure that their ability to provide effective customer service keeps pace with their growth. If you're marketing your firm to new customers, you better be able to provide them service when they do business with you.
Our purpose, as we face these challenges, remains clear - fair and orderly markets that allow for efficient capital formation, while protecting the interests of investors.
It is incumbent on us to facilitate the development of a market structure that best assures that these changes benefit the U.S. securities markets as a whole.
Our markets have not achieved their great successes as a result of government fiat, but rather through efforts of competing interests working to meet the demands of investors and to fulfill the promises posed by advancing technology.
We have an opportunity today that we may not have again in our lifetime, to realize the vision for a true national market system,
The best companies, the most solidly managed companies, are ones that are managed for the future that don't focus on the price of the shares.
I've had my dream job. I have been able to work on issues that I have been deeply passionate about since I first began my career in the securities business nearly 38 years ago,
Taxes are one of the most significant costs of investing in mutual funds,
What must occur is a greater recognition by investors of their individual responsibility.
do whatever was possible to expedite the process.