October 23, 2007
Atkins Calls for Review of SEC Enforcement Program
In a recent speech, SEC Commmissioner Paul Atkins, reviews the history of the Wells Committee and says:
I welcome the idea of new advisory committees to review the functions of our divisions and offices. In light of the many issues raised in the three recent capital market competitiveness reports, the 2006 Chamber of Commerce report on the SEC enforcement program, and the Congressional and GAO reports, I think it is clear that this would be a good time for a new "Wells-like" advisory committee to review the policies and procedures of our enforcement program. The Commission and the staff should welcome, not fear, such a review.
Remarks at the Eighth Annual A. A. Sommer, Jr. Corporate, Securities and Financial Law Lecture, Fordham University Law School, New York, New York, October 9, 2007.
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Atkins makes some good points about the history of the SEC's enforcement program, but I wonder why he forgot to mention Chairman William O. Douglas' order to the early division enforcers: "Go piss on them."
Posted by: M.D. Fatwa | Oct 23, 2007 4:36:46 PM