The Securities and Exchange Commission must improve shortcomings in the operations of its enforcement division, according to a government watchdog report.
The recently released report from the Government Accountability Office found that the division’s systems for planning, tracking, and closing investigations had “significant limitations that hampered its ability to effectively manage operations and allocate resources.” While the SEC has begun addressing the problems, the GAO said more action is needed to ensure they are fully corrected. In particular, the report criticized the division for not doing enough to eliminate a backlog of open cases.
