; removal; basic pay (1) In general The head of the Office of the Special Inspector General for Financial Regulatory Abuses and Misconduct shall be the Special Inspector General for Financial Regulatory Abuses and Misconduct (referred to in this section as the Special Inspector General ), who shall be appointed by the President, by and with the advice and consent of the Senate. (2) Nomination The nomination of the Special Inspector General shall be made on the basis of integrity and demonstrated familiarity with the financial sector and industry, in addition to an ability in accounting, auditing, financial analysis, law, management analysis, securities regulation, prudential banking regulation, derivatives regulation, public administration, or investigations. (3) Removal The Special Inspector General shall be removable from office in accordance with the provisions of section 403(b) of title 5, United States Code. (4) Basic pay The annual rate of basic pay of the Special Inspector General shall be the annual rate of basic pay for an Inspector General under section 403(e) of title 5, United States Code. (d) Duties (1) In general It shall be the duty of the Special Inspector General to, in accordance with section 404(b)(1) of title 5, United States Code— (A) receive, review, and investigate allegations from entities regulated by the covered agencies regarding supervisory, regulatory, and examination abuses and misconduct at any of the covered agencies with respect to the industry overseen by the applicable covered agency, including any ideological bias demonstrated by the covered agency or any employee of the covered agency; and (B) make recommendations to the applicable covered agency and to the appropriate committees of Congress regarding— (i) measures that the covered agency should take to remedy any abuses or misconduct described in subparagraph (A)