Today’s House Financial Services Committee hearing (“SEC Oversight: Current State and Agenda“) featured prepared testimony by SEC Chairman Mary Schapiro, as well as a lengthy question and answer session.
Among the most interesting parts was a statement by Rep. Gary Ackerman of New York, who complimented Mary Schapiro for her accountability. He said words to the effect that “after the rather bombastic initial hearing we had with people from the agency which got an awful lot of attention … the chairman called me and said she was aghast at some of the things she’d heard during the testimony, and by the end of that week two of those people were gone from the agency.”
Full details are available in this post on my Enforcement Action blog over at Compliance Week.
