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Washington Watch - Levitt and Zarb May Leave Beltway

Traders Magazine, February 2000

Staff Reports

When Arthur Levitt, Jr., chairman of the Securities and Exchange Commission, and Frank G. Zarb, his counterpart at the National Association of Securities Dealers, talk - Wall Street listens. That's why both regulators, Brooklyn-born boys who are said to be close friends, may feel compelled to speak out publicly on a hot topic - speculation about their retirement plans.

Levitt, 69, the longest-serving chairman of the SEC, and Zarb, 65, himself a distinguished career federal official, may soon be stepping down, according to published reports. "I haven't heard a thing," said John Heine, a spokesman for the SEC. "Put us down for a no comment.'" NASD spokesman Scott Peterson said Zarb is not expected to retire soon.

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