SEC Mourns Passing of Former Commissioner Norman Johnson

FOR IMMEDIATE RELEASE
2002-62

Washington, DC, May 7, 2002 -- The Securities and Exchange Commission notes with deepest sorrow and regret the passing of Norman S. Johnson, who served with distinction as a Commissioner from Feb.13, 1996, until his retirement on May 19, 2000.

Commissioner Isaac C. Hunt, Jr., who was nominated by President Clinton at the same time as Commissioner Johnson, and who went through the Senate confirmation process with him, issued the following statement:

"My dear friend and former colleague, Norman S. Johnson, was a man of uncommon integrity, gentleness and grace. He served the Commission and, through the Commission the investing public, with great distinction. His many contributions throughout his long and distinguished career in the public and private practice of law serve as an example of how a true public spirited citizen can make a difference. We will all miss him."

Prior to his nomination, Commissioner Johnson had a long and distinguished legal career in his native Utah. He was a senior partner in the firm of Van Cott, Bagley, Cornwell & McCarthy where his practice was concentrated on federal and state securities law. He returned to his practice after his service as a Commissioner.

During his career, Commissioner Johnson served as president of the Utah State Bar Association, was chosen as a state delegate to the House of Delegates of the American Bar Association and was named chairman of the Governor's Advisory Board on Securities Matters, State of Utah. In addition, he served on the Governor's Task Force on Officer and Director Liability, State of Utah, and numerous other committees and groups concerned with the application of federal and state securities laws.

Commissioner Johnson began his career as an assistant attorney general in the office of the Utah Attorney General from 1959 until 1965. He also served as a law clerk of the Chief Justice of the Utah Supreme Court. From 1965 through 1967, he was a member of the staff of the SEC in the then Division of Trading and Markets.

Commissioner Johnson received numerous honors and awards in recognition of his outstanding contributions to the securities practice in the Rocky Mountain area. He authored several articles published in legal periodicals, one of which is much cited, "The Dynamics of SEC Rule 2(e): A Crisis for the Bar." Commissioner Johnson was also active in community affairs in Utah, including the Utah Supreme Court Committee on Gender and Justice.

Commissioner Johnson is survived by his wife, Carol, three daughters and several grandchildren.