Harvey Pitt
Harvey Pitt
Harvey Pittwas the 26th chairman of the U.S. Securities and Exchange Commission, serving from 2001-2003...
action against corporate fired gets last market next president shut sit stop strong supposed time worrying
Now you sit there and shut up...and the next time the President gets fired up to take strong action against Corporate Crooks, like he did last January, shut your yap, stop worrying about over-regulation and market dips, and let him do it, ... That way I won't have to be the one who's supposed to look tough.
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,
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,
ancient move reason unless
Unless there's a reason to re-open ancient history, we should move on,
confidence goal immediate number profession restoring
I place restoring the public's confidence in the auditing profession to be immediate goal number one,
bedrock confidence investor
Investor confidence is the bedrock of our markets,
frankly hard time
I frankly think every one of them who's responsible ... should do hard time for their crimes,
belong closely criminal fraud jail money people policy stage
When people lie, if they play games, if they take money that doesn't belong to them, they are going to go to jail, ... We're working very closely with the criminal authorities and our new certification policy ... will set the stage for people to go to jail for fraud if they misstate their financials.
companies further identified require whose
We've identified those companies whose filings we think will require further review,
analyst group information lead less might people problem publishing select trading widespread
If the analyst is communicating his findings to a select group of people and it might lead to proprietary trading by his employer, then you might have problems. But if he is publishing information for a widespread audience, I have less of a problem with it,
commission earn employees extremely fact financial high less principle reason service subject
Our commission has been subject to extremely high attrition, ... with the principle reason being the fact that our employees earn substantially less than their counterparts in the other financial service regulatory agencies.
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,