The Senate Banking Committee will hold its second hearing into the alleged fraud by Bernard Madoff, with several key Securities and Exchange Commission (SEC) officials slated to testify.
The SEC's Director of Enforcement, Linda Thomsen, and the Commission's Director of Compliance, Inspections and Examinations, Lori Richards, are both scheduled to be at today's Congressional hearing.
Stephen Luparello, interim CEO of the Financial Industry Regulatory Authority (FINRA), was also asked to testify.
At the previous hearing the Senate Banking Committee requested that the SEC turn over any documents such as e-mails, complaint letters and internal reports related to the Madoff fraud.
According to reports, FINRA has recently asked its broker-dealers to report any referrals to Madoff's brokerage or investment advisory services. In addition, FINRA is requesting broker-dealers turn over any correspondence they may have had with employees at Madoff's firm.