Ever since the Bernard Madoff scandal broke open, the media has been rife with lamentations that the SEC was remiss in its oversight of the firm. It has certainly proven to be a PR black eye. Some are now questioning whether the SEC is up to the fraud fight task in general, notes Bloomberg . A few critics of a libertarian bent are calling for the elimination of the agency . Which will strike many as rash.

We’ve brought you lots of news recently about the fallout from the many cases of information fraud that involve credit card information. Aiming to score some marketing points and create a way to up sell customers later, Configuresoft has announced what it calls the industry’s “first-ever free downloadable utility” that helps organizations validate IT infrastructure compliance with the new Payment Card Industry Data Security Standard.

Recall that Section 304 of Sarbanes-Oxley offered what everyone thought was a clawback provision: If an issuer is “required to prepare an accounting restatement due to material noncompliance,” the top executives should give their companies back any bonuses or stock profits realized within the year of the misstated results. But a court ruling just found that CEOs and CFOs are “exempt from disgorging their compensation if their company didn’t restate their financial results–even if a restatement should have been filed,” reports CFO.com. There are cases where restatements were not filed due to mergers and other reasons. So, to the consternation of some, people who even admitted to fraud