GC Should Have Recused Self In Madoff Case: SEC Chief

Law360, New York (March 10, 2011, 5:52 PM EST) -- U.S. Securities and Exchange Commission Chairwoman Mary Schapiro said Thursday that former general counsel David Becker should have recused himself from handling issues involving Bernard Madoff given his financial interest in the Ponzi schemer.

Facing tough questioning from the House Oversight and Government Reform Committee regarding Becker, Schapiro said that when he told her upon joining the agency in 2009 that his mother had had an account with Madoff that was closed in 2004, she did not believe it would cause a problem and did not...
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