Her performance and legacy as SEC chairman will be determined in the coming years, but it is hard to imagine a much better introduction than having the President of the United States tell the world, “You don’t want to mess with Mary Jo!” Check out the video of President Obama announcing the appointment of Mary […]
Bruce Carton
Posted inRegulatory Enforcement
Report: Lanny Breuer to Step Down as Head of DOJ’s Criminal Division
In the year 2013, the U.S. government’s securities enforcement efforts will be led by an almost entirely new group of people. The SEC’s top enforcement figures–Chairman Mary Schapiro and Enforcement Director Robert Khuzami–have already announced their departures, and now it appears that Lanny Breuer, the Chief of the Justice Department’s Criminal Division, will also be stepping down. […]
Posted inRegulatory Enforcement
Mary Jo White Reportedly Under Strong Consideration as Next SEC Chairman
In late November when speculation began to build that Mary Schapiro would soon announce her departure from the SEC (which she did on November 26), I wrote a post on this blog on Who Will Be the Next SEC Chairman? At the time, Mary John Miller, the Treasury Department’s under secretary for domestic finance, was said to […]
Posted inRegulatory Enforcement
Web Watch: Best of the Week Ending January 18
Throughout the week over at Securities Docket I highlight the most interesting columns and blog posts from around the web on the subjects of SEC enforcement and securities litigation. Here is a digest of my picks for the week ending January 18. SEC Enforcement: Rhetoric and Reality By John C. Coffee, Jr., CLS Blue Sky […]
Posted inRegulatory Enforcement
In Investigations, SEC Aggressively Pursuing Production of ‘ESDs’
Defense lawyers report that in recent months, the SEC is increasingly requesting the production of electronic storage devices (ESDs) in its investigative subpoenas. ESDs include things like laptops, hard drives, printers and smartphones. The SEC’s push for ESDs is meeting resistance from some defense lawyers and consultants, who believe such requests are overbroad, and amount to […]
Posted inRegulatory Enforcement
SEC Settlement Trend Report Shows ‘Focus on Individual Accountability’ in FY12
A new study by NERA Economic Consulting shows that the SEC reached 714 settlements in its fiscal year 2012, the highest number since 2007. 537 of these settlements were with individuals, which was the highest number of individual settlements since 2005. The NERA report (“SEC Settlement Trends: 2H12 Update”) offers several other interesting findings, including: […]
Posted inFrom the Archive
A Look Back at Enforcement Developments in 2012
2012 was another eventful year for enforcement actions against securities law scofflaws. The period was marked by several high-profile convictions for insider trading and financial fraud, and also by a series of departures by several significant figures in the enforcement world. Before we dive into the new year, here is look back on some of […]
Posted inRegulatory Enforcement
Who Will Be the SEC’s Next Enforcement Director?
With the SEC’s announcement yesterday confirming that Director of Enforcement Robert Khuzami’s will soon be leaving the agency, the question now becomes who will succeed him as director? The answer to that is complicated somewhat by the fact that the person who will make that decision, current SEC Chairman Elisse Walter, is not necessarily the long-term replacement […]
Posted inRegulatory Enforcement
After Restoring ‘Pride and Purpose,’ Khuzami Departs SEC’s Enforcement Division
Following SEC Director of Enforcement Robert Khuzami’s formal announcement today that he will be leaving the agency, he received praise from an interesting source–U.S. District Judge (and arch-SEC nemesis) Jed Rakoff. Asked by The New York Times to comment on Khuzami’s four years running the Enforcement Division, Judge Rakoff stated that although he and Khuzami “sharply […]
Posted inRegulatory Enforcement
‘They Owe It to Me’: FBI Identifies Top Email Phrases Used by Fraudsters
What do phrases such as “nobody will find out,” “grey area,”and “they owe it to me” have in common? According to research conducted by Ernst & Young in collaboration with the FBI, these phrases are among the top terms used by employees in emails discussing fraud. E&Y has developed software that companies can use to monitor […]
