In a recent report, the Government Accountability Office ("GAO") recommended the establishment of a formal entity to facilitate coordination and compliance with Dodd-Frank Act Section 961 across agency divisions and offices. Section 961 of the Dodd-Frank Act requires the SEC to (i) submit annual assessments and reports on internal supervisory controls for staff that perform corporate financial securities filing reviews, investigations and examinations, and (ii) report at least every three years on the SEC framework for internal supervisory controls applicable to the staff that perform those activities.
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