Now, under the direction of Mr. Clayton, and with its budget essentially frozen, the SEC is cueing that “broken windows” won’t continue.
“It may be the case that we have to be selective and bring a few cases to send a broader message rather than sweep the entire field,” Mr. Peikin told a securities conference Thursday. He said the enforcement division, which had about 1,400 employees in 2016, might have 100 fewer investigators and supervisors by next September by not replacing those who leave.
via SEC Signals Pullback From Prosecutorial Approach to Enforcement