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Luis Aguilar: The Enforcement Commissioner
Commissioner Luis Aguilar joined the SEC in July 2008. In his short time at the SEC, Aguilar has quickly positioned himself as the SEC Commissioner with the strongest interest in enforcement issues. In several speeches over the past eight months, Aguilar has taken strong positions advocating changes in the enforcement program and even being critical [...]
SEC: “Stay Tuned” for More Subprime-Related Enforcement Actions
Rosalind Tyson, regional director of the SEC’s Los Angeles office, stated today at PLI’s 2009 SEC Speaks that the SEC expects to file additional subprime-related enforcement actions and has dozens of “very active” investigations underway. “We expect to be filing additional actions in this space, stay tuned,” she said. Reuters reports that Tyson said the [...]
SEC Chairman Schapiro Announces Immediate Measures to Bolster Enforcement
SEC Chairman Mary Schapiro delivered a speech this morning at PLI”s 2009 “SEC Speaks” conference that announced several important new Enforcement Division initiatives, including the end of the SEC’s two-year “penalty pilot” experiment and the implementation of a system permitting more rapid approval of formal orders of investigation. Full details and a copy of the [...]
SEC Commissioner Aguilar Calls for Commission to Have Power to Bring Criminal Cases
As discussed here in detail, SEC Commissioner Luis Aguilar’s January 10, 2009 speech entitled, “Empowering the Markets Watchdog to Effect Real Results” included several specific “internal shifts in policy” that he would like to see made immediately to boost the SEC’s ailing Enforcement Division. Another point in the speech, however, that escaped our notice in [...]
SEC Commissioner Aguilar’s Prescription for an Ailing Enforcement Division
On January 10, 2009, SEC Commissioner Luis A. Aguilar delivered an interesting speech entitled, “Empowering the Markets Watchdog to Effect Real Results” in which he presented some specific “internal shifts in policy” that he would like to see made immediately to boost the SEC’s ailing Enforcement Division.
SEC’s Aguilar Concerned With Drop Off in Large Investigations, Lower Amount of Penalties
In his remarks before the 14th Annual Securities Litigation and Regulatory Practice Seminar, SEC Commissioner Luis A. Aguilar had some interesting “quality vs. quantity” comments with respect to the recently announced case and penalty statistics of the Enforcement Division. In short, he appears to wants more high-impact “large investigation” cases and greater penalties. He stated: [...]
Why Does Fraud Occur? (Movie Edition)
by Bruce Carton What do a recent speech by the SEC’s Lori Richards, Bud Fox from “Wall Street,” Robin Hood, and “Coffee is for closers” have in common? Not too much, but that does not stop me from trying to link them together in this post on my Enforcement Action blog over at Compliance Week.