Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, February 12, 2013

POGO Reports on SEC's Revolving Door

The Project on Government Oversight (POGO) is a nonpartisan independent watchdog that investigates waste, fraud and abuse throughout the federal government, according to its website.  It recently released its second study on the "revolving door" at the SEC, Dangerous Liaisons: Revolving Door at SEC Creates Risk of Regulatory Capture.  Whether or not you agree with the premise of the report, it is worth reading.  In addition, POGO performed a public service by obtaining from the SEC, through FOIA requests, disclosure statements filed by former SEC employees from 2001 through 2010, which are searchable online through its SEC Revolving Door Database.

The Report also contains a number of sensible recommendations, including

  • let the public see where federal employees go after they leave the government, and disclose their ethics agreements
  • extend the cooling off periods for employees who enter and leave the agency
  • give the public more information about agency actions
  • give the SEC the resources it needs
  • other players should do their part.

http://lawprofessors.typepad.com/securities/2013/02/pogo-reports-on-secs-revolving-door.html

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