November 4, 2000 |
SEC Chairman Arthur Levitt, approaching the end of his long tenure, is pushing mutual fund directors to reduce commissions that funds pay to brokerages, much of which are being passed on to investors. Levitt also is threatening action if companies continue to give stock options to executives without shareholders' approval.
August 20, 1996 |
Securities and Exchange Commission Chairman Arthur Levitt took the chairman of the House Commerce Committee to task for pressing for delays in major rule changes for the Nasdaq Stock Market, according to a letter released Monday. The pressure from Rep. Thomas J. Bliley Jr. (R-Va.) threatened to interfere with a recently concluded SEC investigation of the Nasdaq market, Levitt complained in his July 30 letter to Bliley.
March 7, 1994 |
Levitt Concerned About Derivatives: Securities and Exchange Commission Chairman Arthur Levitt expressed concern about the use of derivative securities by individual investors and state and local pension funds. Levitt called for greater oversight and said securities firms should provide better information to investors before selling derivatives, securities that are tied to the value of bonds, stocks and other assets.
May 12, 1989 |
Arthur Levitt Jr. said Thursday that he was resigning as chairman of the American Stock Exchange after 11 years at the nation's third-largest stock market, which has attempted to stem the loss of business to its bigger Wall Street peers by expanding into innovative securities. Levitt, 58, said he would remain at the exchange until a successor is named, and that a search committee had been formed. He said he plans to build his 3-year-old Levitt Communications Inc. into a larger publishing company.
January 24, 1997 |
Securities and Exchange Commission Chairman Arthur Levitt on Thursday criticized corporations for their disclosure of financial forecasts in a way that favors Wall Street analysts and leaves investors with boilerplate. Levitt said a year-old law that seeks to encourage companies to publicize their expectations is not working because many corporate disclosures are "over-lawyered."
October 15, 1998 |
Arthur Levitt, chairman of the Securities and Exchange Commission, Wednesday urged mutual fund investors not to overreact to third-quarter fund losses. "I am concerned they've never seen this before, they've never seen a downturn of this magnitude," Levitt said on "NBC Nightly News." "Markets by definition go up and down. The most important factor is to neither fall in love nor become disenchanted with securities."