Bob Jewell, managing partner at the firm Andrews Kurth, released the following statement today in response to a report by the SEC Inspector General:
“Friday’s report by the Securities and Exchange Commission’s (SEC) Inspector General is disappointing.
Spencer Barasch served the SEC with honor, integrity and distinction. We disagree with the characterization of Mr. Barasch’s involvement put forth by the Inspector General in regard to the Stanford Financial Group matter. We believe he acted properly during his contacts with the Stanford Financial Group and the Securities and Exchange Commission. He did not violate conflicts of interest.
During his near 20 years of public service at the Securities and Exchange Commission (SEC), Spencer C. Barasch was promoted extensively. He received a number of awards including the Irving M. Pollack Award for his dedication to public service and the SEC, and his fairness and compassion in dealing with the public and the staff. His work included “….more than 50 emergency enforcement actions involving securities scams targeting inexperienced investors, recovering close to one billion dollars for investors.” The full text of his departure press release can be found at: http://www.sec.gov/news/press/2005-34.htm
He is and will remain a valued member of the Andrews Kurth team where he provides our clients with the highest possible quality of advice and counsel.”
