The SEC this week announced a mass action against 34 defendants for alleged violations of federal securities laws regarding reporting of stock holdings. As the Wall Street Journal reported, the action “is part of the ‘broken windows’ strategy” – i.e., where “even the smallest infractions” are pursued – announced by SEC Chairman Mary Jo White in 2013.
While that is true, the significance of the action goes much further. Here are five takeaways for market participants.
‘Enforcement 40’ for 2020
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