The President today announced his intention to nominate Arthur Levitt, Jr., owner of the Capitol Hill newspaper Roll Call and formerly chairman of the American Stock Exchange, as a member of the Securities and Exchange Commission. Once Mr. Levitt is confirmed as a member, the President intends to designate him Chairman of the SEC.
"Backed by 20 years of experience in high finance and newly introduced to the workings of Capitol Hill, Arthur Levitt is well prepared to take the helm at the SEC," the President said. "I have full confidence he will use his office wisely to strengthen public confidence in our country's financial agencies."
NOTE: A biography of the nominee was made available by the Office of the Press Secretary.
William J. Clinton, Nomination for Chairman of the Securities and Exchange Commission Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/220190