Washington watchdog sues SEC for destroying investigative files

Government watchdog CREW has sued the SEC and its chair Mary Schapiro for purging documents related to probes of suspected wrongdoing at financial institutions


A government watchdog is suing the US Securities and Exchange Commission (SEC) and its chair Mary Schapiro for purging early-stage investigative files relating to investigations of Bernard Madoff and Lehman Brothers, among others.

Citizens for Responsibility and Ethics in Washington (CREW) filed a complaint with the District Court of Columbia on September 27 alleging that the SEC has violated the Federal Records Act.

The practices came to light when 13-year SEC employee Darcy Flynn blew the

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