The Progressive


A project of Common Dreams

For Immediate Release
Contact: Caitlin MacNeal,COMMUNICATIONS MANAGER,(202) 347-1122,

These Are the Investigative Reports the SEC Doesn't Want You to See


Previously unpublished investigative reports exposing a wide range of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

The Project On Government Oversight (POGO) is an independent nonprofit that investigates and exposes corruption and other misconduct in order to achieve a more effective, accountable, open and honest federal government.