One certainty with the new administration is that Arthur Levitt is leaving. The longest-served head of the Securities and Exchange Commission will close the door on his tenure in mid-February. So who will replace Levitt, the most pro-investor head in the SEC's history? And will that person continue Levitt's policies? We put our ears to the ground to find out.

The early gossip id's a couple likely candidates, both lawyers in private practice: Jim Doty of Baker and Botts in Washington D.C. and Harvey Pitt of Fried Frank in New York City. Doty, we believe is the leading candidate?

So what is he likely to do if given the post? Doty has already served a stint at the SEC under a Bush (pater not shrub). A Texan, he also should be comfortable snacking on the new White Houses barbeque. He also may hold an inside edge by working at the same firm as Jim Baker, the Texan and former Secretary of State who headed Bush's post-election Florida efforts. Still, he is not the insider that Levitt was, nor is he close to the fund industry. Sources also told the MFWire.com that Doty plays a mean game of tennis; he denied it.

Doty provided a firm "no comment" in response to questions about the rumors. Of course, it is also rumored that Bush is loathe to appoint candidates who blow their own horn.

"I absolutely cannot comment on this," he said. When pressed he added, "I simmply have no comment. The transition team is doing its work and I have no idea what they're going to do."

Doty did confirm that he is a registered Republican and a "pretty-good squash player and a terrible tennis player."

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Q.T Fundman is an occasional columnist who resides somewhere in the trenches of the fund industry between Washingon, DC, New York City and Boston. 

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