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SEC Chairman Levitt to Reveal Future Plans

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Arthur Levitt, the

Securities and Exchange Commission's

longest-serving chairman, will make an announcement at 11:30 a.m. ET about his future plans.

The former chairman of the

American Stock Exchange

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was appointed by President Clinton to head the commission nearly eight years ago. It has been expected that he would step down at the end of Clinton's second term. In

Sunday's Streetside Chat, Levitt told


, "Whether I stay or go is not a function of who's the president. I have never worked with a more dedicated group of people in my life, and I dearly hate to leave these associations. On the other hand, I've done it for nearly eight years. If you were to observe that I would likely go no matter who is president, you wouldn't be incorrect."

President-elect Bush will choose the new SEC chairman once he takes office. There has been

speculation that he might choose the commission's only Republican, Laura Unger.