Apr 28 2003

CHAIRMAN SHELBY COMMENTS ON SETTLEMENT BETWEEN FIRMS AND REGULATORS

Senate Banking Committee Chairman Richard Shelby (R-Ala.) commented on the final settlement announced today between investment firms and regulators. Sen. Shelby said, “It is my hope that the settlement is strong enough to reinvigorate investor confidence, punish wrong-doers and establish a higher standard of professional conduct. I intend to closely scrutinize the details of the agreement, and look forward to discussing the implications of the settlement with regulators at next week’s hearing.”