FOR IMMEDIATE RELEASE                             2001-15



         KAREN BUCK BURGESS NAMED SENIOR ADVISER FOR
      OFFICE OF COMPLIANCE INSPECTIONS AND EXAMINATIONS
                              
                              
                              
      Washington,  D.C., January 19, 2001 -- Securities  and
Exchange  Commission  Director of the Office  of  Compliance
Inspections  and  Examinations, Lori Richards,  today  named
Karen  Buck Burgess Senior Adviser to the Director, a  newly
created  senior  position  in  that  Office.   In  her   new
capacity,  Ms. Burgess will provide advice and  guidance  to
the  Director,  advise examination and inspection  staff  in
headquarters  and in the regions and districts, particularly
concerning  issues  that arise under  the  recently  enacted
financial  services modernization legislation, and spearhead
special    projects.    Ms.   Burgess   will    also    have
responsibilities for the Office's examination  oversight  of
clearing agencies.

     Ms. Burgess has served as Associate General Counsel  in
the  Office of the General Counsel since July 1996.  She has
been  responsible for advising the General Counsel  and  the
Commission  on  a  variety of rulemaking,  enforcement,  and
legislative matters.  She played a key role in advising  the
Commission  during negotiations leading to the enactment  of
recent  financial  services modernization  legislation,  the
Gramm-Leach-Bliley Act.  Prior to this, Ms.  Burgess  served
the  Commission in a variety of other capacities,  including
Deputy  Chief  Counsel in the Division of Market  Regulation
and  Special  Counsel in the Office of  the  Chairman.   She
received  the  Commission's Distinguished Service  Award  in
1998.

     In  addition to her work at the Commission, Ms. Burgess
has  worked in the law offices of Milbank, Tweed,  Hadley  &
McCloy  in  Tokyo,  Japan, and of Baker & McKenzie  in  Hong
Kong.  She has also served as an Executive Assistant in  the
Bangkok,   Thailand  Office  of  the  United  Nations   High
Commissioner for Refugees.  Ms. Burgess received a B.A. from
Oberlin College and a J.D. from Antioch School of Law.

     Chairman  Arthur Levitt said, "During my tenure,  there
are few people I've worked with more imbued with a sense  of
the   Commission's   history,   mission,   and   sense    of
professionalism   than  Karen  Burgess.    Her   wealth   of
knowledge,  legal  acumen, and sound  policy  judgment  will
serve  this agency and America's investors well in  her  new
role.   She has been, and will no doubt continue to be,  one
of the shining stars of the Commission."
     
     General  Counsel David M. Becker said:  "We  will  miss
Karen.   She  has  been  a  senior  legal  advisor  to   the
Commission  on  virtually all matters on its regulatory  and
legislative  agenda.   Though  she  leaves  us  for  a   new
challenge  at  OCIE, this office will bear her  imprint  for
many years to come."
     
     Lori  Richards  said, "I am delighted that  Karen  will
help  us  in our oversight of the securities industry.   She
brings  enormous legal talent and experience, which will  be
particularly valuable in helping us weave through  the  many
issues  under  the new financial services legislation.   She
will be a real asset to OCIE."
          
          
                              
                              
                         #    #    #