Frontrunner for SEC Chairman Emerges

April 27, 2001 ( - Securities lawyer Harvey Pitt, a former general counsel at the Securities and Exchange Commission (SEC), has emerged as the Bush administration's favorite for the Chairman's seat at the nation's securities regulator.

Since leaving the SEC in 1978, he spent much of his career dueling with his former employer as a lawyer at the firm Fried Frank Harris Shriver & Jacobson.

Since former clients include Wall Street brokerages, accounting firms, the New York Stock Exchange, and defendants in insider trading cases, his nomination might raise questions over conflicts of interest.