Word: sec
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Dates: during 2000-2009
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...When the SEC needs to be deterring corporate wrongdoing, the 'penalty pilot' program sends the wrong message," Schapiro said...
...more rapid approval of formal investigation orders and commission permission slips, Schapiro is now allowing SEC enforcers to more easily move from informal investigations to securing subpoenas for witness testimony and documents by abolishing the agency's onerous "pre-approval" process. The process, which began at the beginning of all serious investigations, required all five SEC commissioners to be present and "pre-approve" any major investigation. The problem: it often took weeks before all the commissioners could come together in one room...
Prior to joining the SEC, Schapiro was the highly paid chief executive officer of the Financial Industry Regulatory Authority (FINRA), a self-regulatory agency that also missed Madoff's scam. Upon leaving FINRA last month, Schapiro received a $7.2 million severance payment...
...people we serve," both big and small investors, Schapiro said she'll form a feedback group within the SEC called the Investor Advisory Committee. The committee's purpose, she said, is to hear "firsthand about the issues most concerning to investors...
...SEC did not comment on how this committee would operate or how investors would be invited to participate, but from the recently disclosed list of 13,500 Madoff victims, there are a few ready to give their two cents, which is all they can afford...