Harvey Pitt
Harvey Pitt
Harvey Pittwas the 26th chairman of the U.S. Securities and Exchange Commission, serving from 2001-2003...
analyst changes confidence enhance facilitate help immediate investor meaningful protect research resolution swift
Swift and appropriate resolution of these investigations will protect investors, facilitate the implementation of immediate and meaningful changes in research analyst and IPO allocation practices, and help enhance investor confidence in the marketplace,
ancient move reason unless
Unless there's a reason to re-open ancient history, we should move on,
congress media program proud
What I think we've come up with has been deliberately mischaracterized in the media, and I think the program we have is something that this Congress should be proud of,
anyone believe black cause monday sinister
That should not cause anyone to believe there will be something sinister like a Black Monday opening,
fine formidable lawsuit taken
They are formidable and they are very fine lawyers, and I think they and their lawsuit have to be taken seriously.
conflict consultant definitely multiple performing potential wrong
There isn't necessarily anything wrong with a compensation consultant performing multiple roles, but there's definitely a potential for conflict.
analyst critical next review step
This is the next step -- and a critical one -- in the Commission's year-long review of analyst practices,
impact public
any restrictions that we think have an impact on public investors.
decided events markets open precaution safety securities sorted strongly support today trading tragic
As a safety precaution while the tragic events of today are sorted out, the securities markets have decided not to open for trading today. We strongly support that decision.
action addressing commend concerns confidence decisive events financial investing investor leadership light major public raised recent restore shown step taken
This is a significant step in addressing major concerns raised by the investing public in light of recent events, ... It is more important than ever that decisive action be taken to restore investor confidence to the financial markets, and I commend the leadership shown by the NYSE.
economic physical
This is not an economic problem, it's a physical catastrophe,
audit cannot commission corporate cycle evidence failures far growing investor massive pattern somehow stop tolerate vicious
This commission cannot and will not tolerate a pattern of growing restatements, audit failures, corporate failures and massive investor losses, ... Somehow we have got to put a stop to the vicious cycle that has now been in evidence for far too many years.
paid
they shouldn't be paid when they don't produce.
additional address announcing authorized clear conduct core critically duties events fiscal fully fund immediate improve including markets money morning needs parity pay president program receive recent securities staff strengthen whose
It is clear from recent events -- including the program the president is announcing this morning to improve and strengthen the duties of those whose conduct is at the core of our securities markets -- that the SEC critically needs to receive additional money in fiscal 2003 to fully fund pay parity and that we should be authorized to add new staff to address pressing immediate needs,