Arthur Levitt

ARTHUR LEVITT - 2000 Recipient

ASECA is proud to announce that Arthur Levitt has been selected as the eighth recipient of the William O. Douglas Award.

Mr. Levitt was the 25th Chairman of the United States Securities and Exchange Commission. First appointed by President Clinton in July 1993, the President reappointed Chairman Levitt to a second five-year term in Mary 1998.

As SEC Chairman, Mr. Levitt's top priority has been investor protection, which is reflected by the key successes of his first term; reforming the debt markets; improving broker sales and pay practices; promoting the use of plain English in investment literature, as well as in SEC communications with the public; preserving the independence of the private sector standard-setting process; ensuring the independence of accountants; and encouraging foreign companies to list on US markets.

Mr. Levitt also worked to sever ties between political campaign contributions and the municipal underwriting business, as well as improved the disclosure and transparency of the municipal bond market.

In his second term, Mr. Levitt maintained his focus on investor protection by increasing cooperation with the criminal authorities to combat securities fraud; fighting fraud in the microcap stock market; maintaining quality accounting standards; harmonizing international accounting standards; and creating a regulatory framework that embraces new technology.

Before joining the Commission, Mr. Levitt owned Roll Call, a newspaper that covers Capitol Hill. From 1989 to 1993, Mr. Levitt served as the Chairman of the New York City Economic Development Corporation, and from 1978 to 1989 he was the Chairman of the American Stock Exchange. Prior to joining AMEX, Mr. Levitt worked for 16 years on Wall Street. He graduated Phi Beta Kappa from Williams College in 1952 before serving in the Air Force for two years.