GAO Report Slams SEC Procedures: Report

Law360, New York (September 14, 2007, 12:00 AM EDT) -- An investigation into the policies and procedures of the U.S. Securities and Exchange Commission has revealed problems with investigation management and settlement disbursement, according to a new Government Accountability Office report.

The report, which the GAO said will be released on Tuesday, outlines the agency's concerns over the manner in which the SEC manages its investigations, and the speed with which it distributes settlement funds to investors, according to the Wall Street Journal, citing people familiar with the report.

The GAO took on the investigation of...
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