Desire, Conservatism, Underfunding, Congressional Meddling, and Study Fatigue: Ingredients for Ongoing Reform at the Securities and Exchange Commission?

42 Pages Posted: 22 May 2013 Last revised: 9 Jul 2013

Joan MacLeod Heminway

University of Tennessee College of Law

Date Written: May 21, 2013

Abstract

This article suggests the use of program evaluation -- a branch of social science research designed to assess organizations and their activities -- to analyze continued reform efforts at the Securities and Exchange Commission ("SEC") under Section 967 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 967 compelled the SEC to retain an independent consultant to evaluate and issue a report on its structure and operations and mandated that the SEC engage in post-study reporting to Congress over a two-year period on its implementation of resulting reforms. The article concludes that program evaluation techniques are useful in this context and identifies, based on program evaluation literature, both positive and negative aspects of the study and reporting required under Section 967.

Keywords: Section 967, Dodd-Frank, Securities and Exchange Commission, SEC, federal agency, reform, program evaluation, new public management, NPM

JEL Classification: D29, H19, H59, K22, K23

Suggested Citation

Heminway, Joan MacLeod, Desire, Conservatism, Underfunding, Congressional Meddling, and Study Fatigue: Ingredients for Ongoing Reform at the Securities and Exchange Commission? (May 21, 2013). University of Cincinnati Law Review, Vol. 81, 2013; University of Tennessee Legal Studies Research Paper No. 214. Available at SSRN: https://ssrn.com/abstract=2267643

Joan MacLeod Heminway (Contact Author)

University of Tennessee College of Law ( email )

1505 West Cumberland Avenue
Knoxville, TN 37996
United States
865-974-3813 (Phone)
865-974-0681 (Fax)

Paper statistics

Downloads
67
Rank
281,153
Abstract Views
1,030