Two-and-a-half years ago, Securities and Exchange Commission Enforcement Director Robert Khuzami called a press conference to announce the agency’s Cooperation Initiative, calling the new program “a potential game changer.” The SEC was adopting new tools to deal with companies that came forward with evidence of fraud or other wrongdoing in their ranks. Following the lead of the Department of Justice, the SEC could offer companies non-prosecution agreements or deferred prosecution agreements, instead of just the threat of civil actions.
But since that program was announced in January 2010, the SEC has entered into just three NPAs and one DPA, according to this mid-year report by Gibson, Dunn & Crutcher….
via Where Does the SEC’s Cooperation Initiative Stand? — The Litigation Daily
