The Securities and Exchange Commission is getting tough on serial late filers and delinquent filers. The Delinquent Filings Branch of the SEC’s Division of Enforcement has revoked the securities registrations of more than 90 companies in a little more than one year, and has sent a warning that there will be many more in the near future.
“We have been delisting more recently than we had historically,” confirms Gregory Faragasso, an assistant director of the SEC’s Division of Enforcement. “We re-invigorated our program last year. There are a lot of delinquent companies out there and we are revoking their registrations in groups.”
