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The policy provides an attorney to monitor DOJ’s defense of you in a civil suit that alleges you committed an act, error or omission in the scope of your employment (i.e., a Bivens action), or provides you with a private attorney if DOJ declines to defend you in such a civil suit.
 
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SEC Employees Disciplined Over Failures in Madoff Fraud

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The Securities and Exchange Commission has disciplined eight agency employees over their handling of the Madoff fraud case. The fact that the chairman decided not to fire any of the employees, because doing so “would harm the agency’s work,” SEC spokesman John Nester said, will most likely bring more scrutiny and demands of accountability. The discipline recommendations included a 30-day suspension along with a reduction in pay and grade, a pay cut, a seven day suspension, a three day suspension, and two counseling memos. Before the agency took these actions, it “thoroughly examined all factors relevant to the imposition of discipline, including the employees’ performance before and since the Madoff events,” Nester said. The inspector general’s report mentioned 56 SEC employees and called into question the performance of 21 of them, according to SEC officials. At a March congressional hearing, an SEC official testified that 35 of the 56 had left the SEC voluntarily and that six disciplinary proposals were “working their way through the system.” The SEC has no power to discipline people who have left its workforce.

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The Madoff case is an example of the massive scrutiny placed upon officials, managers and employees. The fact that it has been a front page news story for several years doesn't help current employees. Though many of the officials involved in the SECs oversight of the case have left the agency, those who stayed behind must answer the calls for accountability by Congress, the media and the public. These same employees have been subjected to intense investigations into their work - as is the case with most high profile cases. Having a FEDS policy gives you the peace of mind you need to do your job and protect you if your decisions are suddenly under this type of massive scrutiny warranting an investigation. Inquiries into these matters are made easier when you have your own personal attorney protecting your interests and helping you obtain the fair judgments for your actions.

11/23/2011

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