Wall St’s top cops defend new focus on Main St | Financial Times

The US Securities and Exchange Commission has long been called the top cop on Wall Street, but in Donald Trump’s administration the regulator has struck a softer tone.

The SEC has shifted focus since 2017 under the direction of chairman Jay Clayton, with blockbuster corporate fines giving way to cases in which Main Street investors have been bilked out of their savings.

“Extracting large settlements out of big banks is not the only thing that we’re here to do,” said Steven Peikin, co-director of enforcement, in an interview with the Financial Times.

via Wall St’s top cops defend new focus on Main St | Financial Times.