In last month’s column, I noted the arrival of a new Securities and Exchange Commission enforcement director, Robert Khuzami. I suggested that Khuzami had to hit the ground running and discussed the flood of suggestions from within the SEC and from the outside that Khuzami had already received as to what he should prioritize and pursue upon his arrival.

Less than one month later, details of big changes in the Enforcement Division have begun to emerge. From my perspective, the changes now being introduced are smart, high-impact moves that will help the Enforcement Division perform at a higher level.

On April ...