SECURITIES AND EXCHANGE COMMISSION

Articles and editorials

Finding Fraud on Wall St. May Be a Step to Higher Post, H3626 [1MY]

In a Wall St. Hierarchy, Short Shift to Little Guy, H3625 [1MY]

Investors First, H11544 [19NO]

Prescription Drug Benefit Imminent, H6087 [26JN]

Regulation Begins at Home, H11542 [19NO]

Ten Wall St. Firms Settle With U.S. in Analyst Inquiry—Agree To Pay $1.4 Billion, H3625 [1MY]

Bills and resolutions

Business and industry: require disclosure of insider sales of stock of publicly held companies be filed electronically (see H.R. 600), H321 [5FE]

———require enhanced disclosures of employee stock options and require study on economic impact of broad-based employee stock option plans (see S. 979), S5650 [1MY] (see H.R. 1372), H2268 [20MR]

———require improved disclosure of corporate charitable contributions (see H.R. 275), H136 [8JA]

———require mandatory expensing of stock options granted to executive officers (see H.R. 3574), H12306 [21NO]

———review accounting treatment and adopt generally accepted accounting principles for the treatment of employee stock options (see S. 181), S1068 [16JA]

Corporations: prevent publicly traded corporations from issuing stock options to top management in a manner detrimental to long-term interest of shareholders (see S. 690), S4275 [21MR]

Financial institutions: require disclosure of financial relationships between brokers and mutual fund companies and of certain brokerage commissions paid by mutual fund companies (see S. 1822), S14031 [5NO]

Financial Markets Oversight Commission: establish (see H.R. 1109), H1678 [6MR]

Government regulations: provide authority to impose civil money penalties in administrative proceedings for violations of securities laws (see S. 183), S1068 [16JA]

Investments: augment emergency authority (see H.R. 657), H389 [11FE]

———prevent the practice of late trading by mutual funds (see S. 1958), S15975 [25NO]

———provide protection for investors, increase confidence in the capital markets system, and streamline the hiring process for certain employment positions in the SEC (see S. 496), S3027 [3MR] (see H.R. 658), H389 [11FE]

Law enforcement: enhance authority to investigate, punish, and deter securities laws violations and improve ability to return funds to defrauded investors (see H.R. 2179), H4527 [21MY]

Public utilities: revise regulatory policies governing public utility holding companies (see H.R. 1627), H2821 [3AP]

Securities: repeal certain laws that limit private securities actions (see H.R. 636), H322 [5FE]

Taxation: curtail use of tax shelters (see S. 1937), S15812 [24NO] (see H.R. 3650), H12320 [25NO]

———reduce corporate refunds by fines and penalties imposed for improper accounting or reporting practices or financial misstatements (see H.R. 2836), H7454 [23JY]

———treatment of corporate expatriation transactions (see S. 513), S3086 [4MR]

Letters

Accountant, Compliance, and Enforcement Staffing Act: Representative Oxley, Committee on Financial Services (House), H5423 [17JN]

———Representative Tom Davis, Committee on Government Reform (House), H5423 [17JN]

Enforcement of requirement that certain corporate officers certify financial reports: Daniel J. Bryant, Dept. of Justice, S5533 [30AP]

Financial Accounting Standards Board independence: Eugene D. O'Kelly, KPMG LLP, E1848 [22SE]

Mutual Fund Transparency Act: David Certner, AARP, S14039 [5NO]

———several organizations, S14038 [5NO]

Prohibit personal loans to corporate directors or chief officers: Senators Collins and Levin, Committee on Governmental Affairs (Senate), S2179 [11FE]

Regulatory oversight over energy trading markets: several Government officials, S13969 [5NO]

SEC authority to impose civil money penalties in administrative proceedings for violations of securities laws: Harvey L. Pitt, SEC, S4947 [8AP]

———William H. Donaldson, SEC, S4946 [8AP]

SEC Civil Enforcement Act: Harvey L. Pitt, SEC, S1076 [16JA]

Remarks in House

Business and industry: protect investors by improving the accuracy and reliability of corporate disclosures pursuant to securities laws, H95, H114, H115 [8JA], H4059 [14MY]

Corporations: economic impact of mismanagement, deception, and violations of public trust, H3624 [1MY]

FCC: strengthen regulatory guidelines to promote investment in the telecommunications industry, H2556 [1AP]

Investments: augment emergency authority (H.R. 657), H1341-H1343 [26FE]

———provide protection for investors, increase confidence in the capital markets system, and streamline the hiring process for certain employment positions in the SEC (H.R. 658), H5421-H5424 [17JN], E1294 [18JN]

Public utilities: revise regulatory policies governing public utility holding companies (H.R. 1627), E664 [3AP]

Taxation: require publicly-traded companies to disclose certain tax information to ensure accuracy and reliability of stated earnings, H1474 [4MR]

WorldCom, Inc.: investigation of unethical activities, H5063, H5064 [9JN]

———reorganization under bankruptcy protection, H5063, H5064 [9JN]

Remarks in Senate

Business and industry: enforcement of requirement that certain corporate officers certify financial reports, S5533 [30AP]

———protect investors by improving the accuracy and reliability of corporate disclosures pursuant to securities laws, S5325 [11AP], S5533 [30AP]

———require enhanced disclosures of employee stock options and require study on economic impact of broad-based employee stock option plans (S. 979), S5644, S5670-S5672 [1MY]

———review accounting treatment and adopt generally accepted accounting principles for the treatment of employee stock options (S. 181), S1074 [16JA]

Commodity Exchange Act: amend antifraud, false reporting, and civil enforcement authority, and clarify jurisdiction over transactions involving commodity futures and options, S15338 [21NO]

Corporations: prohibit personal loans to directors or chief officers, S2178 [11FE]

Donaldson, William H.: nomination to be SEC Chairman, S2499 [13FE]

Economy: national objectives priority assignments, S1660 [28JA]

Financial institutions: require disclosure of financial relationships between brokers and mutual fund companies and of certain brokerage commissions paid by mutual fund companies (S. 1822), S14038-S14043 [5NO]

Government regulations: provide authority to impose civil money penalties in administrative proceedings for violations of securities laws, S4946-S4948 [8AP]

———provide authority to impose civil money penalties in administrative proceedings for violations of securities laws (S. 183), S1075 [16JA]

Investments: prevent the practice of late trading by mutual funds (S. 1958), S15983-S15985 [25NO]

———provide protection for investors, increase confidence in the capital markets system, and streamline the hiring process for certain employment positions in the SEC (H.R. 658), S8260 [19JN]

Levitt, Arthur, Jr.: Franklin D. Roosevelt Distinguished Public Service Award recipient, S8718 [26JN]

Presidential appointments: nominations considered and confirmed en bloc, S2499 [13FE], S13230 [24OC]

Taxation: allow pension plans to replace Treasury bonds with conservative long-term corporate bonds and establish Commission on Defined Benefit Pension Plans, S6436 [15MY]

———curtail use of tax shelters (S. 1937), S15816-S15827 [24NO]

Reports filed

Accountant, Compliance, and Enforcement Staffing Act: Committee on Financial Services (House) (H.R. 658) (H. Rept. 108-63), H2937 [8AP]

Emergency Securities Response Act: Committee on Financial Services (House) (H.R. 657) (H. Rept. 108-19), H1331 [25FE]

Nomination of Paul S. Atkins to the SEC: Committee on Banking, Housing, and Urban Affairs (Senate), S13133 [23OC]

Nomination of William H. Donaldson to the SEC: Committee on Banking, Housing, and Urban Affairs (Senate), S2187 [11FE]

Texts of

H.R. 658, Accountant, Compliance, and Enforcement Staffing Act, H5421 [17JN]

S. 181, Stock Option Accounting Review Act, S1075 [16JA]

S. 183, SEC Civil Enforcement Act, S1076-S1078 [16JA]

S. 979, Broad-Based Stock Option Plan Transparency Act, S5671 [1MY]

S. 1822, Mutual Fund Transparency Act, S14040 [5NO]

S. 1937, Tax Shelter Transparency and Enforcement Act, S15819-S15827 [24NO]