Tomorrow's SEC

Law360, New York (February 4, 2009, 12:00 AM EST) -- The continued turmoil of worldwide financial markets and the discovery of massive frauds — most notably Bernard Madoff's alleged $50 billion Ponzi scheme — have significantly impacted the public's trust in the markets.

While the staff at the U.S. Securities and Exchange Commission (the "SEC" or "Commission") has successfully investigated and prosecuted a wide variety of securities frauds, a torrent of criticism has been directed at the Commission — the federal government's lead investor guardian — both for failing to recognize and regulate the risks surrounding...
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