SEC to Create Office to Return Assets to Investors

The Securities and Exchange Commission will create an office focused solely on returning restitution money to investors harmed by stock fraud, and one of its first missions will be to return the $3.4 million in fines and disgorgement to mutual fund investors impacted by the timing scandal, the Associated Press reports.The office makes sense, given how slowly the Commission currently is able to return the money, SEC Chairman Christopher Cox told a Senate appropriates subcommittee. The SEC has been working with the Treasury Department’s Bureau of Public Debt to invest money it collects in interest-bearing accounts.