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.
action addressing commend concerns confidence decisive events financial investing investor leadership light major public raised recent restore shown step taken
This is a significant step in addressing major concerns raised by the investing public in light of recent events, ... It is more important than ever that decisive action be taken to restore investor confidence to the financial markets, and I commend the leadership shown by the NYSE.
agency stronger wants
This has nothing to do with the chairman.... He wants the agency to be stronger and better than ever when he leaves.
paid
they shouldn't be paid when they don't produce.
audit cannot commission corporate cycle evidence failures far growing investor massive pattern somehow stop tolerate vicious
This commission cannot and will not tolerate a pattern of growing restatements, audit failures, corporate failures and massive investor losses, ... Somehow we have got to put a stop to the vicious cycle that has now been in evidence for far too many years.
correct created crisis current enormous fix hard leadership mistakes problems since strides taken
Since I have taken on the leadership of the commission, we have been working hard to fix the problems that have created the current crisis of confidence, and we have been making enormous strides to correct the mistakes and abuses of the past,
action against corporate fired gets last market next president shut sit stop strong supposed time worrying
Now you sit there and shut up...and the next time the President gets fired up to take strong action against Corporate Crooks, like he did last January, shut your yap, stop worrying about over-regulation and market dips, and let him do it, ... That way I won't have to be the one who's supposed to look tough.
confidence goal immediate number profession restoring
I place restoring the public's confidence in the auditing profession to be immediate goal number one,
analyst changes confidence enhance facilitate help immediate investor meaningful protect research resolution swift
Swift and appropriate resolution of these investigations will protect investors, facilitate the implementation of immediate and meaningful changes in research analyst and IPO allocation practices, and help enhance investor confidence in the marketplace,
fine formidable lawsuit taken
They are formidable and they are very fine lawyers, and I think they and their lawsuit have to be taken seriously.
additional address announcing authorized clear conduct core critically duties events fiscal fully fund immediate improve including markets money morning needs parity pay president program receive recent securities staff strengthen whose
It is clear from recent events -- including the program the president is announcing this morning to improve and strengthen the duties of those whose conduct is at the core of our securities markets -- that the SEC critically needs to receive additional money in fiscal 2003 to fully fund pay parity and that we should be authorized to add new staff to address pressing immediate needs,
bedrock confidence investor
Investor confidence is the bedrock of our markets,
benefit engaged meetings
The meetings that I engaged in were proper. They were for the benefit of investors.
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.