Given the Trump administration’s twin policy goals of deregulation and fiscal conservatism, public-private partnership with the private securities bar may be the SEC’s best, and perhaps only, weapon to effectively combat the ever-increasing number of complex financial frauds. President Trump can make good on his campaign promise to “police markets for force and fraud” and restore a powerful tool to the SEC’s enforcement arsenal by rescinding Executive Order 13433. With the stroke of a pen, Trump can repeal this misguided directive and allow the SEC to draw upon top shelf private-sector legal services at no cost or risk to the American taxpayer.
‘Enforcement 40’ for 2020
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