SEC Sets Investor Summit, Invites Public Participation

FOR IMMEDIATE RELEASE
2002-59

Washington, DC, May 1, 2002 — Securities and Exchange Commission Chairman Harvey L. Pitt today announced the date and format for the SEC's first-ever Investor Summit. The summit will be held in-and webcast from-Washington, D.C. on Friday, May 10, offering individual investors nationwide an opportunity to ask questions and offer comments about the SEC's regulatory agenda in the wake of recent events.

"The challenges that confront individual investors and our capital markets did not arise overnight, but neither can they be tolerated any longer," Pitt said. "We are moving aggressively to restore investor confidence on every front, including corporate disclosure, auditor oversight, and analyst recommendations. As we work with lawmakers, regulators, consumer organizations and industry groups, there is no more important voice for us to hear than that of the investing public."

The summit will begin with a panel discussion from 9:30 a.m. to 11:30 a.m. moderated by Chairman Pitt. Panelists will include:

• Joseph P. Borg, Director, Alabama Securities Commission and NASAA President
   
• Patricia P. Houlihan, CFP®, President and CEO, Houlihan Financial Resource Group
   
• Bill Mann, Senior Investment Writer, Motley Fool
   
• James G. Parkel, President-elect, AARP
   
• Damon Silvers, Associate General Counsel, AFL/CIO
   
• Michelle Singletary, Personal Finance Columnist, The Washington Post

During a second session from 11:45 a.m. to 1:00 p.m., Chairman Pitt, SEC Commissioners Isaac C. Hunt and Cynthia A. Glassman, and SEC division directors will respond to questions and comments from the public.

Investors who would like to ask questions or offer comments prior to the summit may send an e-mail to summit@sec.gov or call 1-877-404-3222. Questions and comments can also be submitted during the event by e-mail or phone.

The summit will take place in the William O. Douglas Room at SEC Headquarters, 450 Fifth Street, N.W., Washington D.C. The public is invited to attend on a first-come, first-served basis, but seating is limited. The SEC will also offer a live audio webcast of the event on the SEC Web site free of charge.