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Tuesday, September 29, 2009
1:36 PM TweetThis
  • The SEC's inspector general issues a 46-page report on fixing the enforcement division, addressing how the agency dropped the ball on complaints about Bernard Madoff's scheme. The recommended changes include adding reviewers to complaints and documenting why they were or weren't acted upon, and ensuring that investigative teams have sufficient experience.

This news story has 3 comments:

  •  
    "Better late than never."
    Sep 29 02:14 PM | Link | Reply
  •  
    Front line troops perfrom better when management backs them up. They also perform better when they have adequate resources and support personnel. These people are so used to being second guessed and over-ruled on open and shut cases that they have lost all initiative.

    Corrective action would consist of rehabilitating the victims of this Khafkaesque scenario, in the meantime bringing in some reinforcements and telling them to go after the Wall Street regulars, the manipulators who are gaming the system.
    Sep 29 02:16 PM | Link | Reply
  •  
    The SEC will never change. It is in charge of overseeing the most profitable enterprise in the world, and to somehow not succumb to the seduction. Wall Street has every reason to ensure that someone they are comfortable with assumes the top position.
    Sep 29 07:22 PM | Link | Reply
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