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SEC Chairman Draws Criticism Over Job Pitch for Subordinate: Levitt Recommended Official for Bear

Traders Magazine, May 1999

John A. Byrne

Richard Lindsey, the former SEC official, and chief architect of the order handling rules, has been stung by criticism over how Arthur Levitt helped place him in a private sector job.

The matter erupted when Sen. Carl Levin, a Michigan Democrat who oversees government ethics programs, questioned Levitt about a telephone call the SEC Chairman made to brokerage industry giant, Bear Stearns Cos. The call was placed to let the firm know about Lindsey's interest in working there.

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