Security - Check Permissions

MFDF - Mutual Fund Directors Forum - SEC’s Inspector General Clears Piwowar’s Actions During Tenure as Acting Chairman

Member Login



Request an account

Sample Banner 2

SEC’s Inspector General Clears Piwowar’s Actions During Tenure as Acting Chairman

The SEC’s Office of the Inspector General wrote to four U.S. senators in response to a March 29, 2017 request that the Inspector General’s office review certain actions taken by SEC Commissioner Michael Piwowar during his tenure as Acting Chairman. Earlier this year, Piwowar took actions related to SEC policy, regulation, or guidance in the Conflict Minerals rule; Pay Ratio rule; and Formal Order of Investigation delegation. Piwowar’s moves drew sharp criticism, particularly from Massachusetts Senator Elizabeth Warren. The Inspector General detailed its review of Piwowar’s actions and concluded: “We did not find that Commissioner Piwowar’s actions as Acting Chairman violated any of the laws currently governing the SEC and our review identified no evidence that his actions could either undermine the SEC’s mission or potentially prove to be a waste of SEC staff time and resources.”