Ex-Atty's Madoff Ties Needed More Scrutiny: SEC Head

Law360, New York (September 22, 2011, 9:56 PM EDT) -- U.S. Securities and Exchange Commission Chairman Mary Schapiro told lawmakers Thursday that the agency would re-examine its response to Bernard L. Madoff's Ponzi scheme after questions arose about a former SEC attorney's potential financial conflict of interest in the matter.

The SEC's Office of Inspector General said Tuesday that David Becker’s inheritance of Madoff funds from his mother’s estate positioned him to directly benefit while advising the SEC in the Securities Investor Protection Corp.’s liquidation proceedings in connection with Bernard L. Madoff Investment Securities LLC....
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