WASHINGTON — The Federal Deposit Insurance Corp.'s chief watchdog will temporarily run the Securities and Exchange's inspector general office while the SEC seeks a permanent watchdog, according to a person familiar with the situation.
Jon Rymer, who has been the FDIC's inspector general since 2006, was asked to be the SEC's interim IG amid turmoil following the departure of former SEC IG H. David Kotz.
Rymer will likely run the IG offices at both agencies concurrently until a permanent successor to Kotz is named, the person said.
The SEC's watchdog has been hobbled by an investigation into alleged misconduct by the office while Kotz was inspector general. According to published reports, the allegations were brought to light by David Weber, an assistant inspector general in the SEC's office for investigations. News reports say Weber has been placed on leave over security concerns raised by other employees about his comments that workers in the officers should be allowed to carry firearms. However, an attorney for Weber has been quoted saying he is being retaliated against for his claims against the IG's office.
On Wednesday, Sen. Chuck Grassley, R-Iowa, released a statement calling for more transparency into what went wrong in the SEC's IG office. Grassley's office released letters he sent to SEC Chairman Mary Schapiro, Acting Inspector General Noelle Maloney and Chuck Tobin, president of At-Risk International LLC, the security consulting firm that has looked into the concerns raised about Weber.
"All federal agencies need a high-performing, independent inspector general's office to hold the agency accountable and protect employees from unwarranted criticism," Grassley said. "The recent turmoil at the SEC inspector general's office raises questions about how well that office is functioning. Information from all sides is necessary to try to establish where things went wrong and what the agency can do to refocus its watchdog capacity."
