FOR IMMEDIATE RELEASE                               2001-150


          Statement of SEC Chairman Harvey L. Pitt

     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.


                           #  #  #