2017 was the prototypical transition year for the SEC. In contrast to many other federal agencies under the current administration, the new SEC leadership did not promise a wholesale rethinking of the agency’s mandate. Rather, they seemed to signal minor changes around the edges, at least for the Division of Enforcement. That said, the new Chair and new Division Co-Directors focused their public statements on “Main Street” fraud – crooked brokers, Ponzi schemes, pump & dumps – while at times downplaying the more complex securities industry-focused cases favored by the prior SEC administration.
Indeed, a quick scan of some of … Read more