The SEC official charged with helping the public navigate the agency’s complex system lied to investigators, added misleading information in reports to Congress, and didn’t log hundreds of entries into the agency’s tip program, according to the summary of an inspector general’s report.
The summary, dated August 29, found that the Securities and Exchange Commission’s ombudsman didn’t log hundreds of fraud claims by retail investors into the internal tip program, as required. When confronted in 2021, the ombudsman created a spreadsheet that falsely claimed tips generated by others were done by her office, the report said. The problems surfaced during a 2021 Inspector General audit of the SEC’S tips, complaints and referrals program (TCR), according to the investigative summary.
‘Enforcement 40’ for 2020
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