SEC inspector general says agency still isn’t up to par

Last year, the iSecurity and Exchange Commission’s nspector general faulted the agency for failing, over a period of eight years, to take action against alleged Ponzi schemer Allen Stanford. In a followup report today, things haven’t improved much. From the Washington Post: “Loosely translated, SEC officials responsible for examining financial firms may be so concerned about their batting averages that they refrain from recording their suspicions in an SEC database of tips, complaints and matters referred to colleagues in the SEC’s enforcement division for possible follow-up…”

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