[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.