{"id":5209,"date":"2011-09-10T00:00:00","date_gmt":"2011-09-10T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2011\/09\/sec_spent_100k_more_than_neces"},"modified":"2022-04-04T15:32:05","modified_gmt":"2022-04-04T20:32:05","slug":"sec-spent-100k-more-than-neces","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/","title":{"rendered":"SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring"},"content":{"rendered":"<p>According to the Office of the Inspector General, by failing to abide by its own practices when hiring Henry Hu as Division of Risk director, as well as the guidelines provided by the Office of Personnel Management, the Securities and Exchange Commission unnecessarily spent $100,000. Details of these findings were provided in a report released by the SEC late last month.<\/p>\n<p>The \u201cunprecedented arrangement\u201d with Hu covered his living expenses in DC when he worked as an SEC division director between 9\/09 through 1\/11. He is now back at work as a professor at the University of Texas Law School.<\/p>\n<p>Specifically faulted over this matter was ex-SEC Executive Director Diego Ruiz, who the Office of Personnel Management said was the person mainly responsible for the offer to cover Hu\u2019s living costs while he worked for the Commission. Ruiz, who has resigned from the agency, was also allegedly involved in the SEC\u2019s misuses of its independent leasing authority. Because Ruiz is no longer with the agency, no disciplinary action will be taken against him.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/\"  title=\"Continue Reading SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to the Office of the Inspector General, by failing to abide by its own practices when hiring Henry Hu as Division of Risk director, as well as the guidelines provided by the Office of Personnel Management, the Securities and Exchange Commission unnecessarily spent $100,000. Details of these findings were provided in a report released [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3740,3761],"tags":[],"class_list":["post-5209","post","type-post","status-publish","format-standard","hentry","category-miscellaneous","category-securities-and-exchange-commis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring &#8212; Investor Lawyers Blog &#8212; September 10, 2011<\/title>\n<meta name=\"description\" content=\"According to the Office of the Inspector General, by failing to abide by its own practices when hiring Henry Hu as Division of Risk director, as well as &#8212; September 10, 2011\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring &#8212; Investor Lawyers Blog &#8212; September 10, 2011\" \/>\n<meta name=\"twitter:description\" content=\"According to the Office of the Inspector General, by failing to abide by its own practices when hiring Henry Hu as Division of Risk director, as well as &#8212; September 10, 2011\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring &#8212; Investor Lawyers Blog &#8212; September 10, 2011","description":"According to the Office of the Inspector General, by failing to abide by its own practices when hiring Henry Hu as Division of Risk director, as well as &#8212; September 10, 2011","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/","twitter_card":"summary_large_image","twitter_title":"SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring &#8212; Investor Lawyers Blog &#8212; September 10, 2011","twitter_description":"According to the Office of the Inspector General, by failing to abide by its own practices when hiring Henry Hu as Division of Risk director, as well as &#8212; September 10, 2011","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring","datePublished":"2011-09-10T05:00:00+00:00","dateModified":"2022-04-04T20:32:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/"},"wordCount":548,"articleSection":["Miscellaneous","Securities and Exchange Commission"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/","url":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/","name":"SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring &#8212; Investor Lawyers Blog &#8212; September 10, 2011","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2011-09-10T05:00:00+00:00","dateModified":"2022-04-04T20:32:05+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"According to the Office of the Inspector General, by failing to abide by its own practices when hiring Henry Hu as Division of Risk director, as well as &#8212; September 10, 2011","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-spent-100k-more-than-neces\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Spent $100K More Than Necessary By Failing to Follow Office of Personnel Management Guidelines In Director\u2019s Hiring"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards &amp; Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards &amp; Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1m1","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=5209"}],"version-history":[{"count":2,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5209\/revisions"}],"predecessor-version":[{"id":26470,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5209\/revisions\/26470"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=5209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=5209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=5209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}