At the request of Sen. Charles Grassley, R-Iowa, the Government Accountability Office last week agreed to examine whether the SEC had adequate procedures in place to oversee stock exchange regulators, including the NYSE and NASD, particularly as hedge funds become an increasingly large presence in the financial markets. Ostensibly, those exchanges are self-regulatory, but the SEC is charged with ensuring that the public markets are carrying out their obligations to root out insider trading and fraud.
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Posted on Tuesday, October 31st, 2006. Filed under: Business Law, Law Misc
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