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FOR IMMEDIATE RELEASE
These Are the Investigative Reports the SEC Doesn’t Want You to See
WASHINGTON - January 20 - Previously unpublished investigative reports exposing a wide range of serious misconduct at the Securities and Exchange Commission (SEC) are now available on the Project On Government Oversight's (POGO) website.
POGO obtained many of the investigative reports by the SEC Office of Inspector General (OIG) through the Freedom of Information Act (FOIA) and from other sources. While some investigations were previously reported by the media and congressional offices, most are nowhere to be found on the websites of the SEC or OIG.
The previously unposted reports include investigations into retaliation against SEC whistleblowers, the agency's failure to vigorously regulate Bear Stearns, conflicts of interest, and insider trading by SEC employees. POGO previously raised concerns about the SEC ignoring recommendations made in the OIG's reports.
"The public has a great interest in knowing what is in these reports," said Michael Smallberg, a POGO investigator who compiled the database. "The SEC should hold itself accountable and that means embracing transparency even when it might embarrass or bring negative attention to you."
More information on the SEC OIG's investigative reports can be found on POGO's blog: Unposted Inspector General Reports Showcase SEC Misconduct, January 20, 2010