All of the following changes have been implemented by the SEC as a result of the Madoff scandal EXCEPT ________.
A. requiring investors to register each trade with the government
B. expanding the technology budget to improve enforcement
C. rewarding individuals for cooperating with investigations
D. establishing five specialized enforcement units
Answer:A
All of the following changes have been implemented by the SEC as a result of the Madoff scandal EXCEPT ________.
A. requiring investors to register each trade with the government B. expanding the technology budget to improve enforcement C. rewarding individuals for cooperating with investigations D. establishing five specialized enforcement units
Explanation: A) As a result of the Madoff scandal, the SEC expanded its budget for use on key technology projects that will restructure vulnerable areas in its regulatory system and improve its enforcement division.The reforms include a so-called "Seaboard Memo for individuals" spelling out how they will be rewarded if they cooperate in investigations. There will also be five specialized enforcement units to tackle crimes such as Ponzi schemes, bribery, and insider trading.