SEC Watchdog Finds Recordkeeping in Disarray

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SEC Watchdog Finds Recordkeeping in Disarray

SEC Watchdog Finds Recordkeeping in Disarray

POGO-

The Securities and Exchange Commission (SEC)—a federal regulator that polices recordkeeping on Wall Street, among other things—has failed to properly handle its own records, according to a recent audit by the agency’s inspector general.

The audit report, issued a year after the SEC came under fire for improperly purging investigative files, describes a records system in disarray.

Many SEC staffers are still unsure about when to preserve records and when to dispose of them, the inspector general found. As a result, some SEC offices may have improperly destroyed documents, while others are sitting on piles of records that could have been safely discarded.

In December 2011, President Obama issued a memo calling proper records management the “backbone of open Government.” If agencies fail to update their records policies, “the surge in information could overwhelm agency systems,” the memo states.

It appears the SEC does not always practice what the President preached.

[POGO]

[ipaper docId=109847821 access_key=key-1zaz0994wrsonk9jpwgy height=600 width=600 /]

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One Response to “SEC Watchdog Finds Recordkeeping in Disarray”

  1. This kind of looks like my house right now, due to fifteen people liveing in it due to these bankster crimes and me having to run my business day and night not hiring help to keep my small business going.

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