Arthur Levitt

The tension between centrality, on the one hand, and competition, on the other, is probably the oldest of all market structure issues. ”

Our role is to maintain and monitor a framework in which fair competition can flourish. ”

Although the Internet makes it seem as if you have a direct connection to the securities market, you don't. Lines may clog; systems may break; orders may back-up. ”

Our purpose, as we face these challenges, remains clear - fair and orderly markets that allow for efficient capital formation, while protecting the interests of investors. ”

I think that the failures of Enron and WorldCom and other companies are partially failures of investors to recognize companies that are selling for a thousand times nothing, but chances are they may be worth only that. ”

Today, the forces of competition, technology, and globalization have converged to spur innovation and to transform the way business is done in the securities industry. ”

Firms need to ensure that their ability to provide effective customer service keeps pace with their growth. If you're marketing your firm to new customers, you better be able to provide them service when they do business with you. ”

Over the past two decades, we have clearly seen an erosion of ethical values. ”

I think we have got to start thinking about banding together in terms of interested groups. ”

One way for investors to protect themselves from a rapid change in the price of a stock is to use a limit order rather than a market order. ”