Schapiro, Pitt, Others Testify On Congressional Proposals On SEC Modernization, Accountability

SEC Chairman Mary L. Shapiro, former SEC Chairman Harvey L. Pitt, and other former high ranking officials of the SEC testified at a Congressional hearing yesterday on "Fixing the Watchdog: Legislative Proposals to Improve and Enhance the Securities and Exchange Commission."

Shubh Saumya of the Boston Consulting Group was also among those testifying at the hearing, vis-a-vis BCG's recommendations issued to the SEC in March 2011 and followup planning and action taken as noted in the Special Study published by the SEC on September 9: Report on the Implementation of SEC Organizational Reform Recommendations.

Also testifying at the hearing were former SEC Commissioner Paul Atkins, former SEC Secretary Jack Katz, former SEC Deputy Chief Litigation Counsel Stephen Crimmins, and George Mason Law Prof J.W. Verret.

Among the more interesting reporting coming out of the hearing:

• Former SEC Head Opposes New Restrictions, by David Hilzenrath, Washington Post 9/16


• In Switch, Bachus Backs More SEC Funds For Dodd-Frank, by Melanie Waddell, AdvisorOne, 9/15

See also our post earlier today on a separate Congressional hearing taking place yesterday, relating to the SEC's consideration of 'crowdfunding' and potential exemptions from SEC registration requirments.

Print this post