FOR IMMEDIATE RELEASE:

CONTACT: Jesse Jacobs - 202-224-4524

Thursday, June 20, 2002

Craig Davis - 202-224-7391



STATEMENT OF SENATOR PAUL S. SARBANES
CHAIRMAN OF THE SENATE BANKING, HOUSING,
AND URBAN AFFAIRS COMMITTEE

June 20, 2002

SEC PUBLIC ACCOUNTABILITY BOARD PROPOSAL

"A quick review of the outline of the SEC proposal reinforces my view that the Congress needs to establish a statutory framework in which the SEC and others need to operate in order to provide the needed legal certainty, independence and authority to address this problem."



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