SEC investigated over purged records

The Inspector General assigned to the U.S. Securities and Exchange Commission is looking into an agency-wide policy requiring staff to periodically purge records of investigations once a case is closed.

Other U.S. federal agencies—including the FBI which frequently works with the SEC on investigations—retain similar records for at least 20 years. An SEC official said the policy in question has been on the books for at least a decade.

Things continue to be dicey in Washington as politicians from both sides of the aisle enjoy a brief reprieve from debating debt ceiling issues, as they chew up time arguing about when President Obama will deliver a speech on job creation.

But, hey, if they delay long enough, perhaps the economy will trickle back to health and take care of the problem before they get around to enacting legislation.

Staff

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