SECURITIES AND EXCHANGE COMMISSION

STATION PLACE 100 F STREET, NE WASHINGTON, DC 20549-2736

UNITED STATES

Office of FOIA Services

December 6, 2011

Ms. Anne Weismann CREW 1400 Eye Street, N.W. Suite 450 Washington, DC 20005 Re: Freedom of Information Act (FOIA), 5 U.S.C. 552 Request No. 11-08196-FOIA

Dear Ms. Weismann: This is a partial response to your request dated June 13, 2011, and received in this office on June 20, 2011, for records related to steps the SEC has taken to institute reforms in the wake of Bernard Madoffs $65 billion Ponzi scheme and Allen Stanfords $8 billion Ponzi scheme. These reforms are described in, inter alia, the Boston Consulting Groups independent report, U.S. Securities and Exchange Commission: Organizational Study and Reform. Access is granted to the enclosed records, except for third party names and other personal information, the release of which could constitute a clearly unwarranted invasion of personal privacy under 5 U.S.C. 552(b)(6), 17 CFR 200.80(b)(6). Certain records are protected by the deliberative process privilege embodied in Exemption 5, 5 U.S.C. 552(b)(5), 17 CFR 200.80(b)(5). Under the deliberative process privilege, withholding these records will encourage open, frank discussions on matters of policy between subordinates and superiors; protect against premature disclosure of proposed policies before they are finally adopted; and/or protect against public confusion that might result from disclosure of reasons and rationales that were not in fact ultimately the grounds for the Commissions action.

Mrs. Anne Weismann December 06, 2011 Page 2

11-08196-FOIA

Certain records are also protected from disclosure under FOIA Exemption 7(E), since release could reasonably be expected to reveal specific investigative techniques, guidelines, and criteria, used in connection with the staff's review of corporate filings and thereby undermine the enforcement of the federal securities laws. You have the right to appeal our decision to our General Counsel under 5 U.S.C. 552(a)(6), 17 CFR 200.80(d)(5) and (6). Your appeal must be in writing, clearly marked "Freedom of Information Act Appeal," and should identify the requested records. The appeal may include facts and authorities you consider appropriate. Send your appeal to the Office of FOIA Services of the Securities and Exchange Commission located at Station Place, 100 F Street NE, Mail Stop 2736, Washington, D.C. 20549, or deliver it to Room 1120 at that address. Also, send a copy to the SEC Office of the General Counsel, Mail Stop 9612, or deliver it to Room 1120 at the Station Place address. Additional information will be forthcoming. In the interim, if you have any questions, please contact Jason Luetkenhaus of my staff at luetkenhausj@sec.gov or (202) 551-8352. You may also contact me at foiapa@sec.gov or (202) 551-7900. Sincerely,

_____________________________ John Livornese FOIA Branch Chief Enclosures