Statement of SEC Chairman Harvey L. Pitt
FOR IMMEDIATE RELEASE
Washington, DC, December 20, 2001 Securities and Exchange Commission Chairman Harvey L. Pitt today issued the following statement:
On behalf of the entire Securities and Exchange Commission, I want to express our deep appreciation to the Congress for its passage earlier today of landmark legislation that reduces excess and unfair fee collections on securities transactions, and offers pay parity to the hardworking, and deserving, staff of the SEC. Those of us who serve at the Commission are privileged to regulate our nation's capital markets, and enforce our federal securities laws. Our staff works tirelessly and enthusiastically to promote and protect our markets and to ensure the confidence of all investors that US capital markets are the fairest and best markets worldwide.
With the passage of this legislation, and assuming its enactment into law as well as its full funding, we believe we will be able to continue to attract and retain outstanding staff. All of us gladly acknowledge that government is a service business, and we are each pledged to having the Commission represent a model of governmental efficiency and effectiveness. Pay parity goes a long way toward making our pledge the public's reality.