GAO Report on SEC Enforcement Expected Soon

The GAO is expected to release a report critical of the SEC's enforcement division soon.  The report notes "significant limitations" in its case-tracking system and recommends written procedures to approve investigations.  It also says the SEC should expedite case closings and deal with its backlog of investigations.   The report follows an earlier Senate committee staff report critical of the agency's handling of the Pequot investigation.  WSJ, GAO Report Criticizes SEC's Probes, Settlement Distributions.