SEC Defections, Cost Overruns Tax Agency

Law360, New York (November 8, 2005, 12:00 AM EST) -- With the departures of several of its top executives, the Securities and Exchange Commission is struggling with personnel issues and cost overruns amid a mandate from the federal government to expand investigations and regulation, attorneys say.

So far this year, the SEC has seen the departure of several high level administrators, including Chairman William Donaldson, Enforcement chief Steve Cutler, Commissioner Harvey Goldschmid, Chief Litigation Counsel David L. Kornblau, and, most recently, Deputy Chief Accountant Andrew D. Bailey, Jr.

Although some of these personnel shifts can be...
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