Mixed signals sent on SEC chief

Monday, Nov. 4, 2002 | 9:36 a.m.

WASHINGTON -- Administration officials sent out conflicting signals Sunday about the future of Harvey Pitt as chairman of the Securities and Exchange Commission.

While publicly praising him, advisers to President Bush made clear that he would dismiss Pitt if the investigations into his selection of a new accounting oversight board show he failed to act properly.

Pitt's troubles deepened Friday when influential Sen. Richard Shelby, R-Ala., criticized Pitt's judgment. Shelby next year will be the chairman or the ranking Republican on the committee overseeing the SEC.

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