Sec Head Under Fire for Working On Madoff Compensation Claims

Charleston Gazette › September 23, 2011

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Summary

WASHINGTON - The head of the Securities and Exchange Commission is facing increased scrutiny from lawmakers as a former top SEC official says he was cleared to work on how victims of Bernard Madoff's scheme should be compensated, even though he benefited financially from Madoff's scheme.

The former SEC general counsel, David Becker, said in testimony to a House hearing Thursday that he was told by agency ethics officials he had no conflict of interest in helping craft the SEC policy.

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Sec Head Under Fire for Working On Madoff Compensation Claims

SEC Chairman Mary Schapiro was criticized at the hearing for allowing Becker to help set the policy even though he told her he had inherited a Mado...

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