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Senate Confirms Levitt's Renomination

Traders Magazine, April 1998

Jeffrey L. Winograd

Securities and Exchange Commission Chairman Arthur Levitt has survived the chill in his relations with Sen. Phil Gramm (R-Texas) and Sen. Lauch Faircloth (R-N.C.).

As previously reported, the lawmakers were unhappy with Levitt's support for new derivative-related rules initially proposed by the Financial Accounting Standards Board. Politically, the worst is now behind Levitt.

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