Washington (Reuters) - the United States securities and exchange commission before staff now in the private sector work may help, last year's $26 trillion dollars money market fund industry reform efforts to derail a report.
Money market funds under the condition of the lobby, sixty - page report by the government supervision and project (POGO) part. This is an example, in the broader review non-profit government supervision and inspection in detail introduced how to in the United States securities and exchange commission "revolving door" may affect the policy and implement decisions, more than ten years of time.
A few weeks later, President Obama nominated, former prosecutor Marie QiaoBai and high-profile white-collar defense lawyer, leading to the United States securities and exchange commission report.
Although her nomination has produced little controversy, so far, whether or not there will be someone questioned her past defensive Wall Street executives may affect how she at work.
"Revolving door is deeply rooted in the United States securities and exchange commission and the federal government," the report said.
"Regulators and supervision the close relationships between can influence the culture, values, and the agency's state of mind - not to mention its supervision and implement policy."
The report also calls for reform, in order to prevent the revolving door may lead to problems. They asked for institutions issued online disclosure statements include, enlarge the standard time, staff must submit after obtain employment statement, and expand employees entering and leaving the government's calm period.
POGO report analysis get through the free information method "requirement, from 2001 to 2010, more than 400 former employees on behalf of the client or the new employer before the United States securities and exchange commission submit disclosure forms.
As an example, how to SEC, alumni can help influence the result of policy, the report points out a long list of former members and staff, including former commissioner Laura unger, all the people questioned by the chairman of the board of directors Mary Shapiro suggested reforms, for money market funds.
Shapiro is money market funds are still as a reserve primary fund in 2008 during the financial crisis through operation risk. She tried to impose combination of capital buffer, and redemption holdbacks, or switch to a floating net assets value from a stable $1 per share.
But, three members refused to support plan, ask for public opinion, leading to new financial stability monitoring committee regulators the United States securities and exchange commission to take action on a certain pressure.
Shapiro left, the agency in December of, the United States securities and exchange commission proposal, began to get some traction. At present, the members of the committee reviews the concept of early files, and explore the action.
POGO admitted that "it is difficult to know how many of these alumni" temporary derailed.
However, it pointed out that the SEC democratic commissioner Louis, gilardino's office, once the fund management company JingShun, helping to break the balance, he joined his republican colleagues vote against the proposal.
"In March 2012, JingShun sent out a troop of o meet gilardino's in the United States securities and exchange commission, and tell him why to tighten monetary market funds rule is a bad idea," the report said.
Later, it said, o gilardino's statement against Shapiro plan ", closely tracking parameter industry."
The report quoted several sources, gilardino's said he before and the relationship between the industry and not make him more easy to accept its parameters. He said the POGO, he follow the public interests and also point out that JingShun investment management leadership has changed, because he left ten years ago.
"I don't think I be anybody's puppet," o gilardino's cited tell POGO.
SEC spokesman John Nestor influence also ignores the revolving door of money market funds debate, tell POGO, "I think you'll find the problem of all aspects of alumni, but,... matters decision is to their advantage."
The report also discusses POGO Mary Jo white revolving door of another example.
It points out that, white hired Morgan Stanley (Morgan Stanley) (MS) plate, the future of the chief executive MaiJinHang to determine if there is any risk Pequot capital management hedge funds in the SEC insider trading investigation.
In 2007, the SEC's launch of lawyers in the fruit of the case, it seems that the senate finance committee minority staff report, the senate staff question, why Mary Jo white direct contact with the executive director Linda Thomson John mike.



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