TV News LIES

Thursday, Apr 24th

Last update06:04:11 PM GMT

You are here News Economy SEC lax in monitoring firms’ compliance, inspector general report says

SEC lax in monitoring firms’ compliance, inspector general report says

E-mail Print PDF

SECThe Securities and Exchange Commission doesn’t just enforce the rules that govern Wall Street. When asked, it often grants individual companies exemptions from the rules. But companies that win those special breaks often fail to comply with the conditions that come with them, the SEC’s inspector general said in a report released Thursday.

What’s more, the agency has no formalized process for monitoring whether companies live up to their end of the bargain, the report said. Though the agency routinely inspects financial firms, “only in rare cases” did the examiners focus on that question, the report said.

The inspector general’s report was another in a series the office has written criticizing the SEC’s performance. Others have focused on agency spending, Ponzi scheme probes and pornography viewed on staff computers. On Thursday, the inspector general targeted the agency’s ability to keep tabs on enforcement.

The SEC both writes and polices a panoply of rules, many of them highly technical, which are meant to protect clients of investment firms and shareholders in public companies. It routinely gives companies a green light to disregard specific requirements.

More...


Most Recent Related Stories...


U.S. insider trading cases face test at appeals court

Insider trading cases in jeopardyA U.S. appeals court is set hear a case whose outcome could make it harder for...

Judge says will accept SAC Capital guilty plea

SAC guilty pleaA federal judge agreed to accept SAC Capital Advisors' guilty plea to fraud charges in the...

After foreclosure crisis, renters suffer under Wall Street landlords

wall street slumlordsThe poster child for the foreclosure crisis has been a middle-income suburban family. But low-income urban...

U.S. Obama signs executive order on equal pay for women

equal pay for equal workKeeping with his promise to champion women’s rights in the workplace, President Barack Obama signed an...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!