Project of Government Oversight “As the Senate continues debating legislation to reform the financial regulatory system, House Oversight and Government Reform Committee Ranking Member Darrell Issa (R-CA) has issued a new report examining a wide range of regulatory and management failures at the Securities and Exchange Commission (SEC), and offering recommendations for reform that are currently lacking in the Senate’s bill. The SEC has come under intense criticism of late, especially with the release of reports by the Office of Inspector General (OIG) finding that the Commission failed to act on overwhelming evidence of the massive Ponzi schemes orchestrated by Bernie Madoff and R. Allen Stanford. Rep. Issa’s report connects these and other recent scandals to a host of systemic problems that are hindering the SEC’s regulatory effectiveness.”