SEC moves forward with enforcement changes

The US Securities and Exchange Commission (SEC) has named the heads of five new specialist investigation units and its market intelligence unit, continuing efforts to improve its enforcement function in the wake of the Bernard Madoff fraud.

After the fraud was revealed in 2008, the SEC faced sharp criticism for its failure to act, despite several inspections. Testifying to Congress in February 2009, Madoff whistleblower Harry Markopoulos accused the regulator of ignoring his warnings and of

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