The House Judiciary Committee has asked the Government Accounting Office to assess the SEC's enforcement ability.

A GAO spokeswoman confirmed that the GAO started the report in May, and would likely complete the report by the end of September.

The House committee asked the GAO to determine what information the SEC had available on recent fund abuse cases, and to "what extent it did not have information, why?" said the spokeswoman. Additionally, the GAO will assess whether SEC staff remain outside of conflicts of interests and how the agency might work with the Department of Justice and other divisions of the government.

A call to Rick Hillman, director of the report at the GAO, was not immediately returned.

After the report is completed, the House committee has up to 30 days to release the report.

Congressman F. James Sensenbrenner, Jr. (R, Wisconsin) is the chairman of the House Judiciary Committee. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE