Inquiries into pending enforcement proceedings raise questions about the proper role of the IG, the actions of that Office and its impact on the important work being done by the Commission and its staff. The website for the SEC IG defines its role as follows: “The mission of the OIG is to detect fraud, waste and abuse, to promote integrity, economy, efficiency and effectiveness, in the Commission’s programs and operations.” Squaring its stated mission with probing active Enforcement Division investigations and court actions is problematic at best. If the goal of the SEC IG is to promote the efficiency and effectiveness of the Commission and facilitate its overall mission, the Office should avoid steps which might undermine the Enforcement program absent the most exigent circumstances. By injecting its self into pending enforcement investigations and actions however the SEC IG risks acting in a manner which is directly contrary to its stated mission.
‘Enforcement 40’ for 2020
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