Tuesday, September 29, 2009
The SEC's Office of Inspector General released two more reports stemming from its investigation into the agency's failures in connection with the Madoff ponzi scheme. One, entitled Review and Analysis of OCIE Examinations of Bernard L. Madoff Investment Securities, LLC, sets forth 37 recommendations for improving OCIE. The other, Program Improvements Needed Within SEC's Divsion of Enforcement, addresses deficiencies in the Enforcement Division and contains 21 recommendations. Both reports state that OIG expects written corrective action plans within 45 days.