Regulators often move in and out of revolving doors between government and the industries they oversee. They can bring valuable expertise. But their ties also can raise questions about whose interests their knowledge ultimately serves. In one recent case, staffers at the U.S. Treasury Department—who previously worked at Big Four accounting firms—helped draft tax regulations that benefited their former clients. The officials later returned to those firms with promotions and higher pay.
Revolving doors weaken SEC oversight, finds research
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