The GAO releases the results of a study ( www.gao.gov/cgi-bin/getrpt?GAO-02-302
) it recently conducted to determine whether the SEC’s logistic
capabilities are keeping pace with the rapid increase in filings,
applications and examinations that make up its workload. While the GAO
praised the commission’s record of achievement, it nevertheless found
that ongoing SEC staff shortages delayed oversight processes—hampering
corporate competitiveness and impairing market efficiency. To cope
with these challenges, the GAO says, the commission should determine
its regulatory priorities and focus all available resources on solving
its staff recruiting and retention problems. In general, the SEC
concurred with these findings and recommendations.
Securities
