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SEC tweets: Fraud cops join Twitter

April 27, 2009 | 12:52 pm

SEC on Twitter

OK, so we all knew that new Securities and Exchange Commission Chairwoman Mary Schapiro was going to take a get-tough stance at the agency -- after Bernie Madoff, what other choice did she have?

But in addition to all the steps she’s taking along those lines -- a new enforcement director, streamlined rules for launching investigations, new procedures for following up on the 2,000 or so hotline tips the agency gets a day -- the SEC also is trying to make itself more transparent.

To that end, the agency is now on Twitter, Schapiro told the Society of American Business Editors and Writers in Denver today.

The SEC actually has three sites on Twitter: SEC Investor Ed, with 1,519 followers as of midday; SEC News, with 541 followers; and SEC Jobs (as in, if you need one) with 67 followers.

It’s all part of what Schapiro, three months into the job, is doing to help repair the agency’s tattered image as a watchdog.

“In real ways, the SEC has not been where investors most need it,” Schapiro told the business journalists. “I’ve let it be known far and wide that things must change.”

-- John Corrigan