June 17, 2002

The SEC has announced that during its meeting on Thursday, June 20, 2002, the Commission will consider whether to propose rule amendments relative for a new private sector regulatory scheme for the accounting profession. The link to the SEC website with the description of the Agenda item for the meeting on the 20th is: www.sec.gov/rules/other/sun061302.htm.

SEC Chairman Pitt gave a speech yesterday before the New York Financial Writers Association in New York, where he discussed this process, but did not discuss any of the details of a proposed rule.