SEC Statement in Response to NYSE Announcement of Chairman Grasso's Resignation

FOR IMMEDIATE RELEASE
2003-119

Washington, D.C., September 17, 2003 -- Statement from Laura Cox, Managing Executive for External Affairs, U.S. Securities and Exchange Commission:

"As Chairman Donaldson said earlier today, the SEC has a direct responsibility for the governance of the NYSE and the other exchanges. The SEC's current review of the NYSE is focused on ensuring good governance.

The SEC will continue its review of governance standards and will work closely with the new leadership at the Exchange to put an appropriate structure in place that will ensure the credibility and integrity of the governance of the exchange."