Harvey Pitt
Harvey Pitt
Harvey Pittwas the 26th chairman of the U.S. Securities and Exchange Commission, serving from 2001-2003...
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,
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,
advise against becomes material temporary
I would advise them against it, ... Of course, one would have to distinguish between material and non-material information. But the analyst, at a minimum, becomes a temporary insider.
gets matter position problem status
We investigate when we find there may be indications that a problem occurred, ... And if we do investigate, no one, no matter what their position or status is, no one gets a pass.
relationships
We'll come down with a sledgehammer on any improper relationships, any improper conflicts.
absolutely chairman compromise matters role
We don't compromise any matters that are ongoing. The SEC chairman has absolutely no role in the day-to-day investigation.
believe best continue dedication integrity interest investors judge people proven record served time
Judge Webster's proven integrity and long record of accomplishment would have served the American people well, as it has time and time again, ... I continue to believe that investors would have benefited from Judge Webster's dedication to the best interest of the American people.
correct created crisis current enormous fix hard leadership mistakes problems since strides taken
Since I have taken on the leadership of the commission, we have been working hard to fix the problems that have created the current crisis of confidence, and we have been making enormous strides to correct the mistakes and abuses of the past,
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.
assets corporate officers orders past prevent preventing seeking senior
We're seeking orders that will prevent any dissipation of assets or payouts to senior corporate officers past or present, and preventing any destruction of documents.
closely direction goal market normal respect result short trading
With respect to short selling, ... the goal of all of us is to have a market that most closely approximates the normal trading environment. As a result of that, you can tell in which direction we will probably be leaning.
companies further identified require whose
We've identified those companies whose filings we think will require further review,
attorney conclusion further inquiry practices recent reinforced resulted staff state uncovered york
The recent disclosures that resulted from the investigation by the New York state attorney general, as well as the practices uncovered by the staff of the SEC, the NYSE and NASD, reinforced the commission's conclusion that further inquiry is warranted,
actions acts division heard including linked looking market reports subjects terrible terrorist variety
We've heard those reports about terrorist involvement in our markets. Our enforcement division has been looking into a variety of market actions that could be linked to these terrible acts including the subjects of the rumors,