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Article: Panel Blasts SEC Enron Oversight.(Senate Governmental Affairs Committee, Securities and Exchange Commission)(Brief Article)
- Article from:
- The Oil Daily
- Article date:
- October 8, 2002
CopyrightCOPYRIGHT 2002 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Panel Blasts SEC Enron Oversight
A US Senate investigation found "systemic and catastrophic failure" by the Securities and Exchange Commission (SEC) in its regulation of failed energy trader Enron, the Wall Street Journal reported Monday.
A 127-page report by the Senate Governmental Affairs Committee blasts the SEC for failing to detect dubious business practices at Houston-based Enron, and for failing to review any of Enron's post-1997 annual reports, the newspaper said.
The committee, chaired by Joseph Lieberman (D-Conn.), on Sunday sent the report along with a "sharply worded" letter to SEC Chairman Harvey Pitt, according to the article.
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