SEC chairman Arthur Levitt Jr. says he is preparing to use the bully pulpit of his office to advocate increased hiring of minorities and women at major securities firms and will soon release a policy statement on the subject.

In an interview with The Bond Buyer last Thursday, Levitt, chairman of the Securities and Exchange Commission since July 1993, said that he is planning to release a "specific initiative" in about 30 days regarding a proposal to better integrate the Wall Street workforce.

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