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Levitt's Legacy: Fragmentation or Centralization. Will Arthur Levitt Find the

Traders Magazine, October 1999

John A. Byrne

The debate over Arthur Levitt's career as chairman of the Securities and Exchange Commission begins in earnest on June 5, 2003, when his current term ends. If he serves out his term, he will have become the longest-serving chairman of the SEC.

He will end up as a hero, a has-been or as a mediocre advocate of market reform. His legacy is not assured. But his place at the center of the most fascinating and challenging era in securities trading is guaranteed.

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