SEC Chairman Mary Schapiro told lawmakers Thursday that she realizes the SEC should have gone beyond what is required under ethics rules after the Commission's General Counsel disclosed that his mother had invested with Bernie Madoff.

"While Mr. Becker did solicit and follow advice from the ethics counsel, I realize in light of this incident that, as Chairman, I have to ensure that we go beyond what may be required in any particular situation."  -- Mary Schapiro.

Speaking before the House Oversight Committee, that's looking into whether former General counsel David Becker should have recused himself from advising the SEC on Madoff matters, including how to compensate victims.  Mr. Becker had inherited money from his late mother, who had invested with Madoff. Becker has told lawmakers he was given the green light to work on Madoff matters from the SEC's ethics attorney.   [CNBC.com, 3/16]