Securities and Exchange Commission

SEC, Battered By Madoff, Yet To Implement Many Recommendations For Improvement

Zachary Roth | December 17, 2009, 12:53PM

A good government group is slamming the Securities and Exchange Commission for ignoring or delaying on hundreds of recommendations made by the agency's internal watchdog. Many of these recommendations were made in the wake of the SEC's failure to detect Bernie Madoff's massive Ponzi scheme, a misstep for which the agency was widely derided earlier this year.

Two documents obtained through a FOIA by the Project on Government Oversight show that hundreds of recommendations made since December 2007 by the SEC's Office of the Inspector General have gone unimplemented.

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