New York (Nov. 6, 2002) -- Public faith in the Securities and Exchange Commission has hit an all time low, global marketing research and consulting firm RoperASW reported this week.
Marking its sharpest drop ever, the SEC rating dropped 11 percentage points from the last reading to an all-time low of 40 percent favorability, putting the SEC last among 21 government agencies, RoperASW reported. The findings are based on a survey of 2,000 American adults from August 1994 through August 2002, and a July 2002 telephone survey of 1,000 adults.
The last time the Commission's ranking was in the low 40s was following the recession of the mid-1990s. Today, more than one-third (34 percent) of the public holds an unfavorable view of the agency's performance, compared to 22 percent in 1995, RoperASW said.
"The significant change in public attitude toward the SEC reflects concerns that the agency is understaffed, asleep at the switch or in bed with corporate insiders," said Ed Keller, CEO of RoperASW. "Ordinary investors believe the agency helped companies reap huge profits at their expense."
--Electronic Accountant Newswire staff
