Harvey Pitt
Harvey Pitt
Harvey Pittwas the 26th chairman of the U.S. Securities and Exchange Commission, serving from 2001-2003...
commission earn employees extremely fact financial high less principle reason service subject
Our commission has been subject to extremely high attrition, ... with the principle reason being the fact that our employees earn substantially less than their counterparts in the other financial service regulatory agencies.
advise against becomes material temporary
I would advise them against it, ... Of course, one would have to distinguish between material and non-material information. But the analyst, at a minimum, becomes a temporary insider.
gets matter position problem status
We investigate when we find there may be indications that a problem occurred, ... And if we do investigate, no one, no matter what their position or status is, no one gets a pass.
relationships
We'll come down with a sledgehammer on any improper relationships, any improper conflicts.
asked hit job people wonderful
Nah, ... He just asked us over here to tell us what a wonderful job the American People think we're doing! Now hit this!
companies further identified require whose
We've identified those companies whose filings we think will require further review,
congress media program proud
What I think we've come up with has been deliberately mischaracterized in the media, and I think the program we have is something that this Congress should be proud of,
ancient move reason unless
Unless there's a reason to re-open ancient history, we should move on,
address board capable confident faces issues judge strong wisdom
under Judge Webster's capable leadership, I'm confident that this strong board will address the important issues it faces with wisdom and expedition.
investment lots meet people
We meet with lots of people ... we meet with representatives of many investment groups,
analyst group information lead less might people problem publishing select trading widespread
If the analyst is communicating his findings to a select group of people and it might lead to proprietary trading by his employer, then you might have problems. But if he is publishing information for a widespread audience, I have less of a problem with it,
charge evidence fraud
Those things we were able to do because we were able to charge fraud and we had all the evidence we needed,
closely direction goal market normal respect result short trading
With respect to short selling, ... the goal of all of us is to have a market that most closely approximates the normal trading environment. As a result of that, you can tell in which direction we will probably be leaning.
attorney conclusion further inquiry practices recent reinforced resulted staff state uncovered york
The recent disclosures that resulted from the investigation by the New York state attorney general, as well as the practices uncovered by the staff of the SEC, the NYSE and NASD, reinforced the commission's conclusion that further inquiry is warranted,