After the Bernard Madoff fraud came to light, costing investors an estimated $50 billion, it emerged that the SEC had fallen down on the job, in part because, as we detailed last month, it had soft-pedaled its enforcement duty. And today, the head of the agency’s Office of Compliance, Inspections and Examinations, Lori Richards, testified before the Senate Banking committee about how to prevent future Madoffs.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=146651