Former SEC counsel Becker says ethics officer cleared him
09.24.11
Former Securities and Exchange Commission General
Counsel David Becker has been criticized for making decisions
on how victims of Madoff’s Ponzi scheme would recover assets
because his family once had investment with Madoff’s firm.
However, Becker said he disclosed the possible conflict of interest
to the SEC chairman as well as the regulator’s ethics
officer. Both cleared him to participate in the Madoff matter.
Great assets of Bernie Madoff
03.13.09
Rumblings of massive asset searches
underway worldwide (investors are not waiting for the feds to
conclude work) for accounts linked to the businesses run by Bernie
Madoff.
One question bantered about recently by veteran researchers: does Gramm-Leach-Bliley Act cover business accounts? More specifically, are businesses considered "customers" under the act and thus protected by the sort of tactics once used to find assets hidden by scam artists like Madoff? General counsel for one large firm advised me the act does cover business accounts, but others disagree--off the record. No one wants to be the test case.
One question bantered about recently by veteran researchers: does Gramm-Leach-Bliley Act cover business accounts? More specifically, are businesses considered "customers" under the act and thus protected by the sort of tactics once used to find assets hidden by scam artists like Madoff? General counsel for one large firm advised me the act does cover business accounts, but others disagree--off the record. No one wants to be the test case.