Nov. 25 (Bloomberg) -- The U.S. stock market’s top regulator is being examined over trading by its own employees.
The Securities and Exchange Commission’s internal watchdog is reviewing whether the agency enforces a ban on employees owning shares that pose conflicts of interest, according to a report to Congress released today. The audit by the SEC inspector general follows revelations that officials in the regulator’s New York office invested in securities they’re banned from trading.
SEC employees are restricted from owning shares of most Wall Street banks, which have brokerage and asset-management units that the agency regulates. SEC ethics attorneys said earlier this year they would review internal records to make sure employees are complying with the rule.
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