News

Allegations that the nation's securities regulator has destroyed records detailing evidence in 18,000 investigations could deter would-be whistleblowers from turning to the agency, say lawmakers and compliance professionals. The U.S. Securities and Exchange Commission (SEC) has deleted the data on even high-profile inquiries, including the investigation into convicted Ponzi schemer Bernard Madoff, despite an agreement with the National Archives and Records Administration (NARA) to keep such records for a minimum of 25 years, according to an Aug. 17 story by Rolling Stone. NARA, which oversees how federal agencies retain records, said on Aug. 18 that it had contacted SEC officials...