Section 968 – Study on SEC Revolving Door

Section 968 of the Dodd-Frank Wall Street Reform and Consumer Protection Act was not codified. It reads as follows:

SEC. 968. STUDY ON SEC REVOLVING DOOR.

(a) Government Accountability Office Study.--The Comptroller General of the United States shall conduct a study that will--

(1) review the number of employees who leave the Securities and Exchange Commission to work for financial institutions regulated by such Commission;
(2) determine how many employees who leave the Securities and Exchange Commission worked on cases that involved financial institutions regulated by such Commission;
(3) review the length of time employees work for the Securities and Exchange Commission before leaving to be employed by financial institutions regulated by such Commission;
(4) review existing internal controls and make recommendations on strengthening such controls to ensure that employees of the Securities and Exchange Commission who are later employed by financial institutions did not assist such institutions in violating any rules or regulations of the Commission during the course of their employment with such Commission;
(5) determine if greater post-employment restrictions are necessary to prevent employees of the Securities and Exchange Commission from being employed by financial institutions after employment with such Commission;
(6) determine if the volume of employees of the Securities and Exchange  Commission who are later employed by financial institutions has led to inefficiencies in enforcement;
(7) determine if employees of the Securities and Exchange Commission who are later employed by financial institutions assisted such institutions in circumventing Federal rules and regulations while employed by such Commission;
(8) review any information that may address the volume of employees of the Securities and Exchange Commission who are later employed by financial institutions, and make recommendations to Congress; and
(9) review other additional issues as may be raised during the course of the study conducted under this subsection.

(b) Report.--Not later than 1 year after the date of the enactment of this subtitle, the Comptroller General of the United States shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report on the results of the study required by subsection (a).