Page:United States Statutes at Large Volume 124.djvu/1940

 124 STAT. 1914 PUBLIC LAW 111–203—JULY 21, 2010 enable the SEC and other entities on which the consultant reports to perform their statutorily or otherwise mandated mis- sions. (c) SEC REPORT.—Not later than the end of the 6-month period beginning on the date the consultant issues the report under sub- section (b), and every 6-months thereafter during the 2-year period following the date on which the consultant issues such report, the SEC shall issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate describing the SEC’s implementation of the regulatory and administrative recommenda- tions contained in the consultant’s report. SEC. 968. STUDY ON SEC REVOLVING DOOR. (a) GOVERNMENT ACCOUNTABILITY OFFICE STUDY.—The Comp- troller General of the United States shall conduct a study that will— (1) review the number of employees who leave the Securi- ties 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 finan- cial institutions regulated by such Commission; (3) review the length of time employees work for the Securi- ties and Exchange Commission before leaving to be employed by financial institutions regulated by such Commission; (4) review existing internal controls and make rec- ommendations 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 Commis- sion during the course of their employment with such Commis- sion; (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 rec- ommendations 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 enact- ment 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).