SEC Investigating ‘Prominent Law Firm’ At Which Numerous SEC Attorneys Now Working

A tip of the hat to Ashby Jones at the Wall Street Journal Law blog, who just blogged about a letter from the SEC’s Office of Inspector General to Iowa Republican Senator Charles Grassley about recent investigations it has conducted, which letter includes the following mind boggling sentence:

[W]e are currently conducting an investigation of allegations very recently brought to our attention that a prominent law firm’s significant ties with the SEC, specifically, the prevalence of SEC attorneys leaving the agency to join this particular law firm, led to the SEC’s failure to take appropriate actions in a matter involving the law firm.