SEC’s search and replace follies

March 15, 2011, 9:26 PM UTC

Having trouble keeping daylight savings time and standard time straight?

So is the Securities and Exchange Commission, two days after we returned to daylight savings.

Springing forward

This is the text of an email alert the SEC sent Tuesday to notify subscribers of charges filed against some hedge fund managers:

The Securities and Exchange Commission today charged a hedge fund invEDTment advisory firm and its two founders with orchEDTrating a multi-faceted scheme to defraud clients and failing to comply with fiduciary obligations.

Searching for EST and replacing with EDT has its drawbacks. Conclusion: search and replace is overrated.

Or, um, overEDTimated.