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United States Arthur Levitt is recognized for his leadership in financial regulation, serving as the 25th and longest-serving Chairman of the U.S. Securities and Exchange Commission, advocating for investor protection and market transparency.
In 1997, the SEC under Levitt's leadership approved the exemption of some Enron partnerships from the tight accounting controls of the Investment Company Act.
SEC Speech: A Financial Partnership (A. Levitt) - "I view the SEC's relationship with the FEI as a strong example of the importance of the public-private sector partnership."
Advisor to five emerging technology companies, Mirror, BitPay, Blockchain, Affirm and PeerIQ.
Advisor to five emerging technology companies, Mirror, BitPay, Blockchain, Affirm and PeerIQ.
Advisor to five emerging technology companies, Mirror, BitPay, Blockchain, Affirm and PeerIQ.
Advisor to five emerging technology companies, Mirror, BitPay, Blockchain, Affirm and PeerIQ.
Advisor to five emerging technology companies, Mirror, BitPay, Blockchain, Affirm and PeerIQ.
Investment Company Regulation: The Intricacies of an "..." (1) "The SEC and the Mutual Fund Industry: An Enlightened Partnership," Remarks by Arthur Levitt, Chairman, U.S. Securities and Exchange Commission ...
Sanctioning the Nasdaq market for price manipulation and mandated improved self governance.
After serving as Chairman of the Securities and Exchange Commission (1993-2001), he is a Senior Advisor at the Carlyle Group.
Levitt is a Director of Bloomberg LP, parent of Bloomberg News.
Levitt previously served as a policy advisor to Goldman Sachs.
Levitt serves on the Board of Directors for RiskMetrics Group.
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.
Levitt oversaw an audit published in August 2006, by Kroll Inc. – where he is a consultant – describing how the City of San Diego had allowed a pension deficit of $1.43 billion. Kroll charged the City of San Diego $21 million for the report, with Levitt's time billed at $900 per hour.
In 1963, Levitt joined the brokerage firm Carter, Berlind & Weill. Levitt's name was eventually added to the firm's when it was renamed Cogan, Berlind, Weill & Levitt in the mid-1960s; through a series of mergers the firm eventually evolved into Shearson Loeb Rhoades.
Arthur Levitt Jr. was born on February 3, 1931, in Brooklyn, New York. He graduated Phi Beta Kappa from Williams College in 1952 and served two years in the Air Force. Before his prominent role in public service, Levitt spent 16 years on Wall Street, gaining experience in the financial industry. His career progression led him to significant leadership roles in both the private and public sectors, focusing on economic development and market integrity.
From 1978 to 1989, Levitt served as the Chairman of the American Stock Exchange (AMEX). Following this, he held the position of Chairman of the New York City Economic Development Corporation from 1989 to 1993. In July 1993, President Clinton appointed him as the 25th Chairman of the Securities and Exchange Commission (SEC), a role he was reappointed to in May 1998, making him the longest-serving Chairman in the commission’s history. During his tenure, which concluded on February 9, 2001, Levitt prioritized investor protection, initiating programs to educate and empower investors.
Key achievements during Levitt’s leadership at the SEC include the establishment of the Office of Investor Education and Assistance and the creation of www.sec.gov for public access to corporate filings. He conducted over 40 investor town meetings nationwide to address investor concerns. His efforts also led to improvements in financial reporting quality, auditor independence, reductions in Nasdaq market spreads, and reforms in the municipal bond market. Levitt championed the use of plain English in investment literature and implemented Regulation Fair Disclosure to ensure simultaneous release of important information to all investors. He was also instrumental in fighting Internet fraud and strengthening broker sales practices. After leaving the SEC, he became a senior advisor at the Carlyle Group and served on various advisory and pro-bono boards.
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