FOR IMMEDIATE RELEASE                                    2000-70

     Charles Niemeier Named Chief Accountant of the Division
            of Enforcement; Will Also Lead Division's
                 New Financial Fraud Task Force
                                
     Washington, DC, May 25, 2000 - Securities and Exchange
Commission Chairman Arthur Levitt today named Charles D. Niemeier
Chief Accountant of the Division of Enforcement and Chief Counsel
of the Division's new Financial Fraud Task Force.

     As Chief Accountant, Mr. Niemeier will advise the Division
of Enforcement on accounting-related investigations.  In addition
to those duties, Mr. Niemeier, along with Associate Director Paul
R. Berger, will lead the Division's new Financial Fraud Task
Force, a team of accountants and lawyers who will focus
exclusively on financial reporting and accounting investigations.
With investor protection as its chief goal, this group will
supplement the Commission's financial fraud enforcement efforts,
work on complex and novel accounting issues, and increase the
speed at which cases are brought.  On a yearly basis, the
Commission brings between 90-100 financial enforcement actions.

     Chairman Levitt said, "Charley's experience and enthusiasm
will contribute significantly to the Commission's continuing
efforts to detect and punish those who break the accounting
rules.  The creation of the Financial Fraud Task Force affirms in
spirit and in fact that improving the quality of our financial
reporting system is a top priority of this Commission.  We
welcome Charley to the Commission and look forward to reaping the
benefits of his extensive private sector experience."

     Richard H. Walker, Director of the Division of Enforcement,
said, "We are fortunate to have Charley help lead the SEC's
stepped up fight against financial and accounting fraud.  As both
an accountant and a lawyer, Charley is uniquely qualified to
spearhead our efforts to root out and prosecute those who cook
their books.  I am confident that his contributions will ensure
the premier quality of financial reporting in this nation."

     Mr. Niemeier, 43, has been with the Washington, DC law firm
of Williams & Connolly LLP since 1989.  Most recently, as a
partner, he managed numerous significant matters involving
complex accounting and legal issues.  From 1979 to 1989, Mr.
Niemeier worked as a practicing certified public accountant at
Charles D. Niemeier, P.C., Ernst & Whinney, Arthur Andersen, Fox
& Company, and Carlson Petroleum.  Mr. Niemeier received his
B.B.A. from Baylor University and his J.D. from Georgetown
University Law Center.

     Mr. Niemeier, who will join the Commission shortly, succeeds
Walter Schuetze as the Division's Chief Accountant.  Mr.
Schuetze, who recently returned to his home in San Antonio,
Texas, is continuing to work with the Commission in a consulting
capacity.

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