    [Weekly Compilation of Presidential Documents Volume 38, Number 3 (Monday, January 21, 2002)]
    [Page 77]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Statement on Signing the Investor and Capital Markets Fee Relief Act

    January 16, 2002

        Today I signed into law H.R. 1088, the Investor and Capital Markets
    Fee Relief Act. This legislation will provide fee relief to the growing
    number of Americans who have invested in stocks and bonds to save for
    their retirements, their children's education, and other needs. This
    legislation will relieve the 50 percent of American households that now
    own stock, either directly or in pension or mutual funds, from the
    burden of these fees, while ensuring that the SEC has sufficient funding
    to continue to carry out its important mission of protecting investors
    through vigorous enforcement of securities laws. I applaud the Congress
    for acting in an overwhelming bipartisan manner in sending this
    legislation to my desk.

    Note: H.R. 1088, approved January 16, was assigned Public Law No. 107-
    123.