The US Chamber of Commerce has issued a 135-page report proposing numerous changes in how the SEC ought to be organized. The numerous recommendations made by the fall into three broad areas:
- "the Commission’s leadership structure—how it is managed and organized, and how responsibilities are divided among the Chairman, the Commissioners as a collegial decision making body, the Division directors and office heads, and the career senior officers"
- "agency resources, agency accountability, and performance metrics"
- "a thorough examination of long-standing regulatory programs that have not changed to keep pace with the changes in the capital markets"
(HT: Broc) It's a useful and important document. Unfortunately, like a lot of useful and important documents generated inside the Beltway, it'll probably disappear into cyberspace without further action. Given some of the management problems the SEC's had in recent years (failed audits, not to mention Madoff), however, that would be a mistake.
