May 7, 2002

Chairman Pitt has come under more scrutiny for a meeting he recently held with the new Chairman of KMPG. According to the Washington Post, both Chairmans dispute what was discussed – the KMPG Chairman apparently had sent out a memo after the meeting noting that the SEC’s recent settlement with Xerox was discussed. Chairman Pitt denies that any investigation was mentioned. Chairman Pitt continues to come under more scrutiny than any SEC official in memory – and such scrutiny is likely to continue as the fallout from the boom comes under his watch…see

With great sadness, I note that former Commissioner Norman Johnson recently passed away. Commissioner Johnson served on the Commission from 1996 to 2000. His funeral will be Thursday at noon in Salt Lake City.