SEC chief: Agency learned from mistakes in Fort Worth

“Job one was to understand what went wrong over so many years that allowed the agency to miss conduct that Madoff was engaged in and to put in place reforms that would help us to the best of our ability ensure something like that would never happen again,” she said….”I would put Stanford lessons learned in the same category” as Madoff, she said. “It was about communication. It was about escalating issues. It was about training our people. It’s about how do you focus on what’s important and what presents risks to investors, rather than what gets us numbers in the column of examinations done.”

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