Group Claims SEC Ignored Watchdog's Red Flags

Law360, New York (December 18, 2009, 6:07 PM EST) -- A nonprofit government oversight group has accused the U.S. Securities and Exchange Commission of dragging its feet on more than half of the recommendations made by its Office of Inspector General, which has allowed “serious discoveries of misconduct” to continue unabated.

In a letter sent Wednesday to SEC Chairman Mary Schapiro, Washington, D.C.-based Project On Government Oversight raised concerns that the agency has been “sluggish” in acting on 224 recommendations made by the OIG since December 2007, when SEC Inspector General H. David Kotz took office....
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