FOR IMMEDIATE RELEASE                                       97-86



        SEC ANNOUNCES APPOINTMENT OF WALTER P. SCHUETZE 
       AS CHIEF ACCOUNTANT OF THE DIVISION OF ENFORCEMENT


     Washington, D.C., October 2, 1997 -- Chairman Arthur Levitt
today announced that he has appointed Walter P. Schuetze as the
Chief Accountant of the SEC's Division of Enforcement.  Mr.
Schuetze will fill the position previously held by George Diacont
before he resigned to join the NASDAQ.

     Mr. Schuetze was the Commission's Chief Accountant from
January 1992 through March 1995.  Before he came to the
Commission, he was a partner in KPMG Peat Marwick from 1965 to
1973 and again between 1976 and 1992.  Between his years at KPMG
Peat Marwick, Mr. Schuetze was a charter member of the Financial
Accounting Standards Board.  He also has served on various
committees of the American Accounting Association and the
American Institute of Certified Public Accountants, including as
a member and chairman of the Accounting Standards Executive
Committee of the American Institute of Certified Public
Accountants.

     In announcing Mr. Schuetze's appointment, Chairman Levitt
said "We are truly fortunate that Mr. Schuetze is returning to
the Commission as the Division of Enforcement's Chief Accountant. 
His prior contributions to the Commission as its Chief Accountant
were extraordinary.  Mr. Schuetze has tremendous depth and
experience in all of the accounting issues that confront the
Commission's enforcement program.  It is a great pleasure to
welcome him back."




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