Harvard Law Record – Reeling from the fallout of the Madoff scandal, the Securities and Exchange Commission has been searching for a new strategy and new leadership in its mission to protect the investing public from fraud.<\/p>\n
As part of this effort, the S.E.C. recently unveiled six new organizational departments that will lead units aimed at supervising particular domains of finance: asset management, market abuse, structured and new products, foreign corrupt practices, and municipal securities and public pensions.\u00a0 These changes come with a public recognition that in the rapidly changing world of modern finance the Commission must be constantly vigilant to keep pace with innovation in the markets, as well as a keen awareness that in the wake of the Madoff fiasco the public and Congress are demanding swift action to improve the quality of financial industry oversight.<\/p>\n