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The report paints a picture of an agency mired in political favoritism, one that delayed the Pequot investigation, disclosed information about the case to lawyers for the people being investigated, and displayed deference to a well-known Wall Street executive.
FORBES: SEC Official Retires As Report Blasts Performance
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The news that a Bristol-Myers Squibb (nyse: BMY - news - people ) agreement is being investigated by the feds over a deal with a generic drug firm could have far-reaching consequences as they face many dozens of big drug-patent expirations in coming years--potentially making big pharmaceutical firms less eager to settle with generic drugmakers.
FORBES: Patent Wars
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The suspected crimes being investigated include people- and arms trafficking, prosecutors said.
BBC: German police target Hells Angels in large-scale raids