Rep. Scott Garrett, R-N.J., chairman of the House Financial Services Capital Markets Subcommittee, told Securities and Exchange Commission Chairman Mary Schapiro in a letter on Monday to wait on final action in reconsidering the SEC’s position on “net equity” in the Bernie Madoff case. Garrett wants to hold off until after the Government Accountability Office publishes its report evaluating the actions of the Securities Investor Protection Corp. and its trustee. Read AdvisorOne article here.
