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SEC’s Response to Madoff Under Microscope

The financial headlines have been filled with the Bernard Madoff Ponzi scheme. The response of the Securities and Exchange Commission to warnings about Bernard ...

Federal News Network Staff

February 5, 2009 6:19 pm

< a min read

The financial headlines have been filled with the Bernard Madoff Ponzi scheme. The response of the Securities and Exchange Commission to warnings about Bernard Madoff’s business practices was the subject of a hearing of the Capital Markets, Insurance, and Government Sponsored Enterprises Subcommittee of the House Financial Services Committee yesterday. There were two panels at this hearing. The first was Harry Markopolis, an independent fraud investigator who wrote several letters to the SEC about what he found after investigating Madoff’s fund. The second panel was a group of officials at the Securites and Exchange Commission.