February 14, 2003 – The North American Securities Administrators Association (NASAA) issued the following statement today, following the Senate confirmation of William Donaldson as the new chairman of the Securities and Exchange Commission:

State securities regulators look forward to working with Chairman Donaldson on issues that affect Main Street investors. Without question, he faces one of the most challenging jobs in Washington — rebuilding morale at the agency, hiring new staff to keep up with the SEC`s expanding workload, and communicating with investors, many of whom are wary and cynical. NASAA`s leadership hopes to meet with Chairman Donaldson soon to discuss the role of state securities regulators and their regulatory priorities. Only by working together can state and federal regulators hope to ensure that our markets remain the envy of the world.

For More Information:
Bob Webster, Director of Communications
202/737-0900