Glassman Blasts SEC For Wasting Time

Law360, New York (July 7, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission wasted both time and money on its ill-fated hedge and mutual fund rules when it should have been tackling other issues, said SEC Commissioner Cynthia Glassman.

Speaking at the National Economists Club, the Commissioner bemoaned the effort expended on the two rules, both of which were remanded to the SEC for reconsideration.

“We could, for example, have devoted more attention to simplifying and rationalizing our rules and focusing on major issues such as auditor concentration in the accounting profession, similar...
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