H. David Kotz, inspector general for the Securities and Exchange Commission, has released a report that casts further doubt on the ability of the agency to oversee and police Wall Street and public companies. Kotz scrutinized the SEC's decision making in regard to launching investigations. "The SEC needs to open investigations based on evidence, rather than unsupported allegations, so as not to waste the agency resources and focus needed for investors and market integrity," said Sen. Charles Grassley, R-Iowa.

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