Levitt, Arthur - Investment & Finance Definition
The longest-serving chairman of the Securities and Exchange Commission (SEC). Appointed by President Bill Clinton in July 1993, Levitt was reappointed to a second five-year term in May 1998. He resigned in February 2001. Levitt’s term was characterized by a strong emphasis on investor protection. He was considered an advocate for small, individual investors, and in 2002 published a book that lists the seven deadly sins that the financial industry commits against investors. Before becoming SEC chairman, Levitt owned Roll Call, a newspaper that covers Capitol Hill. From 1989 to 1993, Levitt was the chairman of the New York City Economic Development Corporation. He was the chairman of the American Stock Exchange from 1978 to 1989.