Ms White and Andrew Ceresney, her enforcement chief, touted record case numbers as a measure of clean markets. In fiscal 2016, the commission brought 868 civil cases, up more than 28 per cent from three years earlier. Ms White also lodged a series of “first-of-their-kind” actions against private equity advisers and public finance officials, reflecting what she labelled a “bold and unrelenting” agenda.
Many Republicans, however, saw the escalating statistics as evidence that the commission tackled too many marginal complaints. Mr Clayton intends to zero in on intentional wrongdoing rather than unintentional regulatory violations, said those familiar with his plans.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn