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    Khuzami Letter To Sen. Grassley: RE - Document Retention Policy: 9/14/2011

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    CREW
    On September 16, 2011, Citizens for Responsibility and Ethics in Washington (CREW) filed a Freedom of Information Act request with the Securities and Exchange Commission (SEC) seeking records explaining or describing the SEC’s reasons for not proceeding with closed preliminary investigations, including Matters Under Inquiry (MUI), related to Bernie Madoff, Goldman Sachs’ trading in AIG credit default swaps, financial fraud at Wells Fargo and Bank of America, and insider trading at Deutsche Bank, Lehman Brothers, and SAC Capital. CREW seeks the records in the wake of recent news reports revealing that since 1993, the SEC has destroyed thousands of closed MUI files in violation of its legal obligation to retain these records. In a letter the SEC’s Enforcement Division director sent this week to Senator Charles Grassley, the SEC acknowledged it is likely at least some documents related to the closed matters CREW asked about were destroyed, but asserted current and future investigations have not been harmed. The records CREW seeks would shed light on the truth of these statements, as well as the SEC’s record keeping procedures regarding earlier inquiries and investigations that are critical to the SEC’s ability to detect wrongdoing and enforce laws protecting the public. The SEC’s letter is attached to CREW’s request.

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    Khuzami Letter To Sen. Grassley: RE - Document Retention Policy: 9/14/2011

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    CREW
    629 views8 pages
    On September 16, 2011, Citizens for Responsibility and Ethics in Washington (CREW) filed a Freedom of Information Act request with the Securities and Exchange Commission (SEC) seeking records explaining or describing the SEC’s reasons for not proceeding with closed preliminary investigations, including Matters Under Inquiry (MUI), related to Bernie Madoff, Goldman Sachs’ trading in AIG credit default swaps, financial fraud at Wells Fargo and Bank of America, and insider trading at Deutsche Bank, Lehman Brothers, and SAC Capital. CREW seeks the records in the wake of recent news reports revealing that since 1993, the SEC has destroyed thousands of closed MUI files in violation of its legal obligation to retain these records. In a letter the SEC’s Enforcement Division director sent this week to Senator Charles Grassley, the SEC acknowledged it is likely at least some documents related to the closed matters CREW asked about were destroyed, but asserted current and future investigations have not been harmed. The records CREW seeks would shed light on the truth of these statements, as well as the SEC’s record keeping procedures regarding earlier inquiries and investigations that are critical to the SEC’s ability to detect wrongdoing and enforce laws protecting the public. The SEC’s letter is attached to CREW’s request.

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    Khuzami Letter to Sen. Grassley: RE - document retention policy: 9/14/2011

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    On September 16, 2011, Citizens for Responsibility and Ethics in Washington (CREW) filed a Freedom of Information Act request with the Securities and Exchange Commission (SEC) seeking records explaining or describing the SEC’s reasons for not proceeding with closed preliminary investigations, including Matters Under Inquiry (MUI), related to Bernie Madoff, Goldman Sachs’ trading in AIG credit default swaps, financial fraud at Wells Fargo and Bank of America, and insider trading at Deutsche Bank, Lehman Brothers, and SAC Capital. CREW seeks the records in the wake of recent news reports revealing that since 1993, the SEC has destroyed thousands of closed MUI files in violation of its legal obligation to retain these records. In a letter the SEC’s Enforcement Division director sent this week to Senator Charles Grassley, the SEC acknowledged it is likely at least some documents related to the closed matters CREW asked about were destroyed, but asserted current and future investigations have not been harmed. The records CREW seeks would shed light on the truth of these statements, as well as the SEC’s record keeping procedures regarding earlier inquiries and investigations that are critical to the SEC’s ability to detect wrongdoing and enforce laws protecting the public. The SEC’s letter is attached to CREW’s request.

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    Download as PDF, TXT or read online from Scribd
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    629 views8 pages

    Khuzami Letter To Sen. Grassley: RE - Document Retention Policy: 9/14/2011

    Uploaded by

    CREW
    On September 16, 2011, Citizens for Responsibility and Ethics in Washington (CREW) filed a Freedom of Information Act request with the Securities and Exchange Commission (SEC) seeking records explaining or describing the SEC’s reasons for not proceeding with closed preliminary investigations, including Matters Under Inquiry (MUI), related to Bernie Madoff, Goldman Sachs’ trading in AIG credit default swaps, financial fraud at Wells Fargo and Bank of America, and insider trading at Deutsche Bank, Lehman Brothers, and SAC Capital. CREW seeks the records in the wake of recent news reports revealing that since 1993, the SEC has destroyed thousands of closed MUI files in violation of its legal obligation to retain these records. In a letter the SEC’s Enforcement Division director sent this week to Senator Charles Grassley, the SEC acknowledged it is likely at least some documents related to the closed matters CREW asked about were destroyed, but asserted current and future investigations have not been harmed. The records CREW seeks would shed light on the truth of these statements, as well as the SEC’s record keeping procedures regarding earlier inquiries and investigations that are critical to the SEC’s ability to detect wrongdoing and enforce laws protecting the public. The SEC’s letter is attached to CREW’s request.

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