Arthur Levitt
Arthur Levitt
Arthur Levitt Jr.was the twenty-fifth and longest-serving Chairman of the United States Securities and Exchange Commissionfrom 1993 to 2001. Widely hailed as a champion of the individual investor, he has been criticized for not pushing for tougher accounting rules. Since May 2001 he has been employed as a senior adviser at the Carlyle Group. Levitt previously served as a policy advisor to Goldman Sachs and is a Director of Bloomberg LP, parent of Bloomberg News...
NationalityAmerican
ProfessionPublic Servant
Date of Birth3 February 1931
CountryUnited States of America
he said. ''I would hope the decision would be reversed upon appeal.
The best companies, the most solidly managed companies, are ones that are managed for the future that don't focus on the price of the shares.
Taxes are one of the most significant costs of investing in mutual funds,
Once again, stock markets have been threatened with extinction for almost 75 years, and I have found that stock markets are harder to kill than roaches.
It is time for the U.S. securities market to make this change,
I've had my dream job. I have been able to work on issues that I have been deeply passionate about since I first began my career in the securities business nearly 38 years ago,
These issues are not academic or peripheral -- they directly affect every mutual fund investor. ... One word above all must define a fund's overall management structure. That word is accountability. And, without strong independent directors, accountability is nothing more than words on a page.
It is incumbent on us to facilitate the development of a market structure that best assures that these changes benefit the U.S. securities markets as a whole.
If you compensate a CEO by giving him options, he's going to do everything he can to make those options as valuable as possible.
I worry the best execution may be compromised by payment for order flow, internalization, and certain other practices that can present conflicts between the interests of brokers and their customers.