Emergency Authority May Be Needed
Traders Magazine, September 2001
SEC Chairman Harvey Pitt told Congress that his agency may need more emergency authority in order to maintain orderly markets. The SEC has invoked its emergency powers for the first time in the wake of the Sept. 11 attack, but they may not be enough. "Should we conclude that our efforts to respond to this attack or other major market disturbances would be enhanced by additional authority...we will, of course, let Congress know," he told lawmakers.
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