The Securities and Exchange Commission is launching a fourth-month internal study of its operations, efficiency, productivity, and resources, SEC chairman Harvey Pitt announced today.

In a report earlier this month, the U.S. General Accounting Office concluded that strategic planning could help the agency better identify and manage its resource needs. The special study is intended, in part, to implement the GAO’s recommendation.

“Findings in the GAO report go to the core of my view that government is a service business, consistent with our overriding investor protection mission,” Pitt said. “Being a service business does not mean saying ‘yes’ to any and all comers. It does mean that we, as public servants, have an obligation to reach decisions and provide answers as quickly and as efficiently as possible so that government does not end up inadvertently impeding a vibrant and growing economy. The promptness with which we respond to our many constituencies is one of several objectives of this study.”

The special study will be conducted by mid- and senior-level staff from divisions and offices throughout the agency with working experience in more than one of the major divisions or offices. An outside consultant will assist the special study group throughout its effort. Commission staff leading the study have already apprised the GAO and the Office of Management and Budget of this effort and solicited their views, and intend to continue to do so throughout the study.

“The special study will enable us to ascertain whether we need staffing and other resources beyond the amount we have requested, or whether more efficient use of existing staffing and other resources may meet our needs,” said Pitt. “I firmly believe that this special study is a crucial step in ensuring a strong, vibrant and efficient SEC.”