SEC Crippled By Info Breakdown, Low Resources: GAO

Law360, New York (August 27, 2009, 2:04 PM EDT) -- The U.S. Government Accountability Office released a report Wednesday blasting the U.S. Securities and Exchange Commission's recent enforcement activity, saying corporate penalty policies, inefficient communication and inadequate resources hindered the agency's ability to keep proper tabs on financial markets.

The report, compiled in March at the request of the U.S. Senate subcommittee on securities, insurance and investment, was released publicly a day ahead of the panel's scheduled hearing on SEC enforcement responsibilities.

GAO investigators looked into how the SEC had implemented suggestions put forth in 2007...
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