A top House Republican is urging the Securities and Exchange Commission to wait for a congressional watchdog report before reconsidering its position on the method to calculate claims for victims of Bernard Madoff’s Ponzi scheme. Rep. Scott Garrett (R., N.J.) said that before reconsidering the issue, the SEC ought to wait until the Government Accountability Office completes a review of the Securities Investor Protection Corp.—a compensation body overseen by the SEC—and the actions of Irving Picard, the trustee for the liquidation of the Madoff firm. Read more in the Wall Street Journal here.
