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SEC's Piwowar didn't overstep authority as acting chairman, review finds

( August 25, 2017, 16:52 GMT | Official Statement) -- MLex Summary: A review found US Securities and Exchange Commission Republican Commissioner Michael Piwowar didn't overstep his authority while acting chairman, Inspector General Carl Hoecker said in an Aug. 24 memo to SEC Chairman Jay Clayton. The review looked at his ordering of reviews of conflict minerals guidance and pay ratio rule implementation as well as his restricting the initiation of probes to the enforcement chief — actions he took without Democratic Commissioner Kara Stein's approval when they were the SEC's only sitting members. "We did not find that Commissioner Piwowar's actions as Acting Chairman violated any of the laws currently governing the SEC and our review identified no evidence that his actions could either undermine the SEC's mission or potentially prove to be a waste of SEC staff time and resources," the memo said. The inquiry was requested by four Democratic senators, including Elizabeth Warren of Massachusetts. See document below....

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