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Securities and Exchange Commission
SEC Sued Over Failure To Disclose Post-Madoff Reforms
The Securities and Exchange Commission is being sued over its failure to respond to Freedom of Information Act requests for information about what reforms, if any, it has undertaken since it failed to detect Bernard Madoff's multibillion fraud.
The government watchdog Citizens for Ethics and Responsibility in Washington announced the lawsuit today, saying that the SEC has yet to reply to CREW's October 2009 information request.
PERMALINK | COMMENTS | RECOMMEND RECOMMEND (8)Topics: Bernard Madoff, CREW, POGO, Securities and Exchange Commission
Securities and Exchange Commission
SEC, Battered By Madoff, Yet To Implement Many Recommendations For Improvement
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.
PERMALINK | COMMENTS | RECOMMEND RECOMMEND (2)Topics: Bernard Madoff, Harry Markopolos, POGO, Securities and Exchange Commission, Wall Street
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