GOP Sens. Say SEC Doesn't Work In Current Form

Law360, New York (May 19, 2010, 12:06 PM EDT) -- Republican members of the House Committee on Oversight and Government Reform have issued a report urging Congress to pass legislation to overhaul the U.S. Securities and Exchange Commission, saying the agency in its current form is incapable of doing its job.

Rep. Darrell Issa, R-Calif., minority ranking member on the committee, unveiled the report Tuesday, concluding that chronic structural and cultural problems at the SEC have endangered the investing public and prevented the agency from fulfilling its mandate.

The report — titled "The SEC: Designed For...
To view the full article, register now.