On September 9, 1999, the Securities and Exchange Commission's 25th chairman, Arthur Levitt, also became its longest-serving one. First appointed by President Clinton in July 1993, Levitt was reappointed to a five-year term in May 1998. He left the commission on February 9, 2001, and currently advises the management of The Carlyle Group on strategic business matters.
CM: It's clear that the affects of Sarbanes-Oxley have been felt more deeply than many had imagined. Have the act's powers to reform surprised you?
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