New York (Nov. 11, 2003) -- Richard Smith, who during a four-year tenure with the Securities and Exchange Commission was an outspoken critic of obtusely worded registration statements, died after a battle with pancreatic cancer. He was 75.

Prior to his death, he had been a senior counsel with Davis, Polk & Wardwell.

While at the SEC from 1967 to1971, Smith was highly critical of corporate registration statements and prospectuses that he claimed even veteran investors had difficulty understanding.

In addition to his stint at the SEC, Smith also served on committees for former New York Mayor Edward Koch and for current New York State Governor George Pataki.

-- WebCPA staff

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