As widely reported last week, Brenda Murray, the Initiating Official tasked with reviewing and acting on the disciplinary recommendations of the SEC’s Inspector General in two high-profile matters, rejected the IG’s calls that discipline be imposed on several senior Enforcement officials. In separate reports dated November 7, 2008, Murray found that the IG’s Reports of Investigation did not support his conclusions in the Pequot/Aguirre matter or the W Holding Co./Bear Stearns matter, and that there was no basis in either case for following the IG’s recommendation as to disciplinary or performance-based action.
