SEC Office of Inspector General Releases 2013 Semiannual Report to Congress (with Lofchie Comment)

The SEC Office of the Inspector General released its 2013 Semiannual Report on its own activities to Congress covering October 1, 2012, through March 31, 2013. The OIG report gives a generally favorable assessment of the work of the OIG during the relevant period. It also provides a summary of the various studies that the OIG performed during the relevant assessment period as to the work of the SEC.

Lofchie Comment: Beginning on page 20 of the report is a list of OIG recommendations to the SEC on which the SEC has not taken action for six months or longer. Most of the recommendations involve internal working conditions at the SEC (telecommuting of employees) rather than matters that directly affect market participants. A very significant number of the open issues involve items of information security and the use of technology.

Click here to view report in full (links externally to SEC OIG website).