FTI Law Discusses Accountability at the SEC Enforcement Division

Whistleblower Frances Haugen recently reported Facebook to the U.S. Securities and Exchange Commission (SEC) for allegedly fraudulent statements Facebook made to investors. Millions of people all over the world tuned in to hear Haugen testify before Congress about the wrongdoing she witnessed. Right now, the staff attorneys at the SEC’s Enforcement Division are likely conducting an investigation into those allegations. If the attorneys conclude that Haugen was right and recommend Facebook be prosecuted, the SEC may bring an enforcement action. However, it’s equally possible that the commissioners at the SEC will vote against bringing an enforcement action in a closed-door … Read more