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An SEC lawyer had harsh words for his employer during a farewell party earlier this week, reports Bloomberg.

Read: SEC lets you tout online ratings

Jason Kidney said his superiors were too “fearful” to go after Wall Street’s top bosses in the wake of 2008, notes the report.

“Kidney said [they] were more focused on getting high-paying jobs after their government service than on bringing difficult cases. The agency’s penalties, Kidney said, have become ‘at most a tollbooth on the bankster turnpike.’”

Read more here.

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SEC gives advisors mixed grades for due diligence

Originally published on Advisor.ca

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