§78d–4 Additional Duties of Inspector General

Summary

The Commission’s Inspector General must set up and run a phone hotline or other electronic way for Commission employees to send suggestions for making work better and to report waste, abuse, misconduct, or mismanagement. The Inspector General must keep the identity of anyone who uses the hotline private unless that person says in writing not to. If the person asks, specific information they give can also be kept private. The Inspector General must review reports and suggest actions. They can publicly recognize employees whose ideas improve efficiency or cut waste. Each year the Inspector General must send Congress a report on how many suggestions and allegations were made, what they involved and how serious they were, any recommendations or actions taken, and what the Commission did in response. These activities are paid for by the Securities and Exchange Commission Investor Protection Fund under section 78u–6.