The U.S. securities industry is keen to see Securities and Exchange Commission chairman-designate Harvey Pitt move to reform the industry’s rules. Pitt has received a unanimous vote of approval from the U.S. Senate Banking Committee.

“We are eager to have Harvey Pitt sworn in as the new SEC chairman,” said Securities Industry Association president Marc Lackritz. “He has the skill, knowledge, and background to be a great chairman. We look forward to working with him.”

Lackritz added that the incoming chairman would have a full agenda. “There are a number of key areas that need to be addressed in order to maintain the international preeminence of U.S. capital markets, and to provide investors with the broad range of opportunities and excellent service that they deserve and demand,” he said. “We need to move forward to review the current securities laws and regulations to ensure that they keep pace with technology, to strengthen market integrity, and coordinate among regulators, both nationally and globally.”

“During his testimony, Mr. Pitt gave investors a clear picture of his vision for the securities industry,” said Stuart Kaswell, SIA senior vice president and general counsel. “He demonstrated true insight on the challenges facing the capital markets, and indicated a clear focus on investor protection.”