FOR IMMEDIATE RELEASE                                  97-72




      SEC ANNOUNCES APPOINTMENT OF WILLIAM R. BAKER, III, 
                      AS ASSOCIATE DIRECTOR



     Washington, D.C., September 2, 1997 -- Chairman Arthur
Levitt today announced that he has appointed William R. Baker,
III, as an Associate Director of the SEC's Division of
Enforcement.  Mr. Baker will fill the position which Gary Sundick
held before Mr. Sundick resigned to join the NASDAQ.

Since March 1994, Mr. Baker has been an Assistant Director in the
Division of Enforcement.  While in that position, he has had
primary responsibility for supervision and coordination of all
municipal securities investigations, an area of high priority for
the Commission under Chairman Levitt.  Mr. Baker joined the SEC
in 1987 as a staff attorney in the Division of Enforcement and
served as a Senior Counsel and Branch Chief in the Division.  In
1994, Mr. Baker received the Stanley Sporkin Award which is given
to a member of the Commission's staff who has made exceptional
contributions to the SEC's efforts to enforce the federal
securities laws.

Prior to joining the SEC, Mr. Baker had practiced law with the
firm of Baker & Hostetler in Washington, D.C. for three years. 
He previously clerked for United States District Court Judge
Douglas Hillman in the Western District of Michigan.  Mr. Baker
received his B.A. from Notre Dame in 1979 and his J.D. degree
from the Georgetown University Law Center in 1983.

In announcing Mr. Baker's appointment, Chairman Levitt said "One
of my priorities over the past several years has been the reform
of our nation's municipal securities markets.  Mr. Baker, through
his skill, leadership and tenacity, has contributed to the
success of our enforcement efforts in this market.  His
appointment ensures both the continuation of that program as well
as the ongoing success of the Commission's overall enforcement
activities."



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