Integrity of report on SEC questioned

[alp227]

Source: The Washington Post

Last week, as Securities and Exchange Commission Chairman Mary L. Schapiro was on the hot seat trying to protect her agency from potential budget cuts, she released a report by a consulting firm bolstering her plea for more money.

Now, two of the SEC’s congressional overseers are trying to determine whether the report was written independently and impartially or shaped by the SEC to advance the agency’s agenda.

In a March 15 letter to Schapiro, the lawmakers asked her to disclose “what editorial input, if any, the SEC had on the contents” of the report by Boston Consulting Group.

The lawmakers asked Schapiro to assure them “that the final report was not subjected to substantive editorial review, deletions or insertions by the SEC.” They also sought copies of earlier drafts.

The request was sent by Reps. Spencer Bachus (R-Ala.), chairman of the Financial Services Committee, and Randy Neugebauer (R-Tex.), chairman of that panel’s subcommittee on oversight and investigations.

Read more: http://www.washingtonpost.com/business/economy/integrity_of_report_on_sec_questioned/2011/03/17/AB0fJ6m_story.html

[quakerboy]

1. so. to clarify, repubs are questioning the SEC

Which is not exactly news. Its a government agency which is not directly tasked with handing out private contracts or butting into our private lives. Thats kinda what they do.

[Octafish]

2. GOP's owners don't like SEC

Report must've shown SEC was actually, ehm, doing its job.

VIS KR