Before I close, I’d like to address the audience directly — those of you who are lawyers, auditors, accountants, bankers, and investment advisers. You all play an important role in our capital markets. Market participants rely on you for advice and counsel on a daily basis.
Within our securities laws, you are entrusted with certain responsibilities and take on certain obligations as well.
Thus, you occupy positions of trust. Though you represent your clients, you also have an important role in upholding the law, which protects investors and our markets.
You can often be the first lines of defense. That’s particularly true when a client is getting close to crossing the line. I ask you to think about the economic realities, to think of the duck test, and not to help paper over the cracks.
Source: SEC.gov | Prepared Remarks At the Securities Enforcement Forum
