Arthur Levitt
Former Chairman of the SEC
"Today, the forces of competition, technology, and globalization have converged to spur innovation and to transform the way business is done in the securities industry."
Arthur Levitt served as the 25th Chairman of the United States Securities and Exchange Commission (SEC). First appointed by President Clinton in July 1993, Chairman Levitt was re-appointed to a second five-year term in May 1998. He has the unique distinction of being the longest serving Chairman in the Commission’s history.
During his career as head of the SEC, investor protection was Levitt's top priority. Throughout his tenure at the Commission, Levitt worked to educate, empower, and protect America’s investors.
Investment investigator. Over the past seven years Levitt has conducted more than 40 investor town meetings throughout the country to listen to the concerns of investors and give them tips on safe and wise participation in the securities markets. Newsweek magazine said that Levitt fought to effectively "police the Internet’s wild investing scams, and bolster the flow of honest and reliable information to investors." He currently serves on the Board of Directors for Bloomberg LLP.
A proven expert in his field, Levitt has worked tirelessly to improve the quality of the financial reporting process, maintain the independence of auditors, and save investors billions of dollars by reducing spreads in the Nasdaq market. He also promoted the requirement that important information be released to all investors simultaneously, as well as fought Internet fraud and cleaned up the municipal bond market.
On a Roll. Before joining the Commission, Levitt owned Roll Call, a newspaper that covers Capitol Hill. From 1989 to 1993, he 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 the American Stock Exchange, Levitt worked for 16 years on Wall Street. He graduated Phi Beta Kappa from Williams College in 1952 before serving for two years in the Air Force.
His book, Take On the Street: What Wall Street and Corporate America Don’t Want You to Know, was released to bookstores in October 2002 and his other book; Take on the Street: How to Fight for Your Financial Future was released in November 2003. In 2005, Levitt was named a special advisor to the American International Group’s board of directors and the board’s nominating and corporate governance committee. He speaks with great detail and great enthusiasm about the bulls, the bears, and the wilderness of the economic market.