For Immediate Release
Office of the Press Secretary
January 16, 2002

President Signs Investor & Capital Markets Fee Relief Act
Statement by the President

"Today I Signed Into Law H.R. 1088, the Investor and Capital Markets Fee Relief Act. This legislation will provide fee relief to the growing number of Americans who have invested in stocks and bonds to save for their retirements, their children's education, and other needs.  

This legislation will relieve the fifty percent of American households that now own stock, either directly or in pension or mutual funds, from the burden of these fees, while ensuring that the SEC has sufficient funding to continue to carry out its important mission of protecting investors through vigorous enforcement of securities laws.

I applaud the Congress for acting in an overwhelming bipartisan manner in sending this legislation to my desk."

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