SEC Third Report on the Implementation of SEC Organizational Reform Recommendations

The Boston Consulting Group (BCG) issued a report mandated by the Dodd-Frank Act recommending several improvement initiatives, primarily focused on the agency's internal infrastructure. This report is the third of four agency reports to Congress pursuant to Dodd-Frank Section 967(c), which requires periodic studies on the implementation of regulatory and administrative recommendations in the consultant's report.

Recommendations in the BCG report include: redesigning organizations, enhancing risk management capabilities and internal controls, strengthening the agency's understanding of its workforce strengths, improving processes to improve customer service, managing resources and building valuable capabilities. BCG states that the SEC has made significant strides in these areas (e.g., the OIT re-design, implementation and "Spend to Save" initiative). Beyond that, the report is generally upbeat in praising the progress that the SEC had made in becoming a lean and mean regulating machine. In fact, according to the reporting, the SEC is currently in the process of transitioning from the Mission Advancement Program (MAP) as a stand-alone program to applying the principles of continuous improvement, collaboration and coordination in executing its mission across all of its Divisions and Offices (in other words, the SEC will be better every day in every way).

View report in full here (links externally to SEC website).