SEC steps up its enforcement actions as it defines its priorities
November 26th, 2008 Filed Under E-discovery, legal news
One thing is going up in this faltering economy, the number of enforcement actions being initiated by the SEC. The number of SEC enforcement actions are at an all-time high. By the close of this fiscal year the SEC had brought a total of 671 enforcement actions in this year alone. Insider trading cases are up 25%, market manipulation related cases up 45%, and there are at least 50 pending sub-prime related investigations. Insider trading and market manipulation cases have reached record highs. In the SEC’s Fiscal 2008 Enforcement Results there is a clear upward trend in investigations and enforcement actions. Further, with the new Congress promising to increase regulation of the financial markets it is not implausible that these numbers will increase even more in 2009. In a recent statement issued by the SEC, it’s evident that the regulatory body will require much more information from corporations in a much shorter turn-around time. Three of the goals that the SEC outlined as its priorities are:
- Aggressively Combating Fraud and Market Manipulation Through Enforcement Actions
- Taking Swift Action to Stabilize Financial Markets
- Enhancing Transparency in Financial Disclosure
Post Linx
Permalink | Trackback |
|
Print This Article |