SEC Chief Seeks Probe of Agency's Former Top Lawyer

By artappraiser on Fri, 03/04/2011 - 8:02pm |

By Jessica Holzer, Wall Street Journal, March 4, 2011

WASHINGTON—Securities and Exchange Commission Chairman Mary Schapiro has asked the SEC's watchdog to open a probe into her former top lawyer, whose work on Bernard Madoff's case is drawing scrutiny because he inherited money tied to the Ponzi scheme.

Former SEC General Counsel David Becker is being sued as part of a "clawback" case by the trustee seeking to recover assets on behalf of victims of Mr. Madoff's fraud.

Ms. Schapiro's request comes after Republicans on Capitol Hill announced they were investigating Mr. Becker's personal financial involvement in the Madoff case, as well as the process by which the agency decided that it didn't pose a conflict of interest in his work for the agency on the case....

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http://online.wsj.com/article/SB10001424052748704570904576180931084143402.html?mod=googlenews_wsj