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Project on Government Oversight

Financial Regulatory Agencies

POGO Files 

Related Resources (government documents and letters)

POGO in the News

POGO Files

The SEC at Its Worst
March 23, 2010



Related Resources

Inspectors General: Independent Oversight of Financial Regulatory Agencies
, Government Accountability Office (GAO-09-524T)
March 25, 2009 

Who Regulates Whom? An Overview of U.S. Financial Supervision
, Congressional Research Service (R40249)
February 24, 2009 

Causes of the Financial Crisis
by Mark Jickling, Congressional Research Service (R40173)
January 29, 2009 


POGO in the News

Treasury Department reports employee misconduct, Dugald McConnell and Lisa SylvesterCNN, July 16, 2012 

FSI goes with ‘devil it knows' in Finra oversight of advisers, Mark Schoeff Jr.Investment News, May 29, 2012 

Bachus’ SRO Bill Blasted by Government Watchdog, Melanie WaddellAdvisor One, May 29, 2012 

Can The SEC Be Trusted To Protect A Whistleblower's Identity?, Erika KeltonForbes, April 27, 2012 

POGO Trying to Monitor Former CFTC Employees, Andrew JosephNational Journal, March 20, 2012 

Whistleblower bill draws lobbying, Andrew Joseph with The National JournalGovernment Executive (, January 10, 2012 

UPDATE 3-US SEC accuses FINRA of altering internal documents, Sarah N. Lynch and Suzanne BarlynReuters, October 27, 2011 

Opinion: FINRA Is an Ineffective Regulator, Andrew J. HaigneyRegistered Rep, October 6, 2011 

In the Dark? Probing the SEC's Probes, With Marc Fisher sitting in for KojoThe Kojo Nnamdi Show; WAMU , August 30, 2011 

Madoff probe figure gets cash reward, Jim McElhattonThe Washington Times, August 3, 2011 

Revolving Door at S.E.C. Is Hurdle to Crisis Cleanup, Andrew Ross SorkinThe New York Times, August 1, 2011 

Grassley Questions Education Agency’s Ties to Hedge Funds, Ben ProtessThe New York Times; DealBook, July 28, 2011 

Small Banks Pay Back Treasury Loans with Money from New Treasury Loans, Daniel, July 23, 2011 

SEC Lawyer Leaves To Help Whistleblowers, Samuel RubenfeldThe Wall Street Journal, July 12, 2011 

Investors May Lose as Congress Saves Money on Adviser Oversight, Alexis Leondis and Zeke FauxBloomberg, June 28, 2011 

Wall Street watchdog flunks review, Shirley Gao; Center for Public IntegrityTucscon, June 19, 2011 

SEC and FINRA “Accountability Is Impossible Without Transparency”, Larry DoyleSense on Cents, June 17, 2011 

Audit to determine whether college reg was leaked to Wall Street, Peter SchroederThe Hill, June 13, 2011 

Education Department Officials Accused Of Leaking Info To Short-Sellers , Marcus BaramThe Huffington Post, June 13, 2011 

Blame Grover Norquist for Dismantling Financial Services Reform, Democracy, Jane WhiteThe Huffington Post, June 7, 2011 

Revolving door ensures that some people have a job, Timothy Lange aka Meteor BladesDaily Kos, June 3, 2011 

7 Ex-Politicians Who Are Now On Wall Street, Samuel Ro, The Fiscal TimesBusiness Insider, June 2, 2011 

Incest: The SEC and Wall Street, Don BauderSan Diego Reader, June 1, 2011 

Judd Gregg, Goldman’s New International Man Of Mystery, Chris FratesPOLITICO, May 31, 2011 

Get to the bottom of SEC mess, Opinion PieceDaily World, May 22, 2011 

Rules for Employees, Including Its Own, Put S.E.C. on Hot Seat, Peter J. HenningNew York Times; Dealbook, May 17, 2011 

Critics slam SEC's ‘revolving door', Mark Schoeff Jr.Investment News, May 13, 2011 

New Study Casts Light On SEC 'Revolving Door' Claims, Jessica Holzer, Dow Jones NewswiresNASDAQ, May 13, 2011 

Banks Push Consumer Bureau to Keep U.S. Complaint Line Private, Carter DoughertyBloomberg, May 13, 2011 

Former S.E.C. Official Said to Be Subject of Criminal Inquiry, Edward WyattThe New York Times, May 13, 2011 

UPDATE 1-FBI probing ex-SEC official on Stanford matter, Sarah N. LynchReuters, May 13, 2011 

Ex-SEC employees enjoy 'revolving door,' study says, Charles S. ClarkGovernment Executive, May 13, 2011 

SEC's revolving door to Wall Street gets fresh scrutiny, Tim ReidReuters, May 13, 2011 

Citing Revolving Door, Watchdog Report Questions SEC's Independence , Brian BaxterThe AM LAW Daily, May 13, 2011 

What’s Really Going On At The SEC?, By Larry DoyleBusiness Insider, March 10, 2011 

Watchdog: SEC ignores misconduct, By Chris FratesPOLITICO, March 9, 2011 

Group says discipline relaxed at SEC,, March 9, 2011 

David M. Becker declines to testify, not subpoenaed to House Committee hearing related to SEC, By Wayne Coffey and Nathaniel VintonNY Daily News, March 8, 2011 

SEC’s FCPA Chief Leaves For Simpson Thacher, Samuel RubenfeldThe Wall Street Journal, March 1, 2011 

US Rep. Issa Calls For Dismissals Of Problem Employees At SEC, By Jessica HolzerThe Wall Street Journal; Dow Jones Newswires, January 21, 2011 

SEC transparency faulted by watchdog group, By Charles S. ClarkGovernment Executive, January 21, 2011 

Pequot Insider Trading Case Drags On, By Azam Ahmed and Ben ProtessThe New York Times, December 23, 2010 

Groups face off over proposed whistle-blower rules, By Dan JamiesonInvestment News, December 21, 2010 

News Digest: Watchdog calls on SEC to put reports online, Federal Times, November 7, 2010 

POGO: The Case of the Missing Inspector General Reports, By POGO's Michael SmallbergNieman Watchdog, November 4, 2010 

Repeal of FOIA exemption for SEC passes both houses of Congress, StaffReynolds Center, September 23, 2010 

Congress repeals SEC exemption from FOIA, By Silla BrushThe Hill, September 23, 2010 

The Senate Repeals a Piece Of Financial-Overhaul Law, By Jessica HolzerWall Street Journal, September 23, 2010 

Tough questions for SEC's Mary Schapiro, By Zach GoldfarbThe Washington Post, Market Cop, July 20, 2010 

When National Politics and Home-State Economics Collide, By Rob SilverblattU.S. News and World Report, June 24, 2010 

U.S. Sen. Grassley: Works for stronger oversight of government regulators, Senator Charles Grassley's (R-IA) Press, May 19, 2010 

Senate Votes for IG Independence, By Tom ShoopGovernment; Fedblog, May 18, 2010 

Barofsky Says Criminal Charges Possible in Alleged AIG Coverup, By Bloomberg News, Editors: Michael Serrill, Beth WilliamsSan Francisco Chronicle, April 27, 2010 

Government Watchdog Warns Against Oversight Agency Expansion, By Megan CarpentierThe Washington Independent, February 23, 2010 

Long Island Congressional Candidate Cited for Giving Up JP Morgan Whistleblower, By Michael Smallberg & Adam ZagorinPolitics Daily, January 28, 2010 

Group Alleges Slack SEC Response To Internal Watchdog, By Fawn JohnsonNasdaq; Dow Jones Newswires, December 17, 2009 

Group: SEC ices staff probes, By Eamon JaversPolitico, December 17, 2009 

SEC, Battered By Madoff, Yet To Implement Many Recommendations For Improvement, By Zachary, December 17, 2009 

Watching the Finance Lobby at Work, By Kevin DrumMother Jones, December 10, 2009 

The Problem With Derivatives, By Nick BaumannMother Jones, December 8, 2009 

Non-Profit Says It Sees Loophole In US House Ag Swaps Bill, By Sarah N. LynchDow Jones Newswires, December 7, 2009 

A Big Derivatives Loophole?, By Nick BaumannMother Jones, December 3, 2009 

Insurers seek securities re-evaluation, The Deal (online); Dealscape, October 8, 2009 

Who Defines Derivatives?, By Lawrence DelvingneThe Business Insider: The Money Game , August 14, 2009