The U.S. Securities and Exchange Commission announced Friday it had dismissed 42 pending enforcement cases after discovering enforcement staff had improper access to materials meant for commission officials ruling on those cases.
The decision comes after the SEC concluded a lengthy review of a matter first raised in April 2022, when it disclosed that some of its databases had inadvertently allowed SEC enforcement staff to view legal materials meant for officials with its in-house court.
The enforcement and in-house ruling arms of the SEC are supposed to be kept completely separate from each other regarding such matters. In a statement, the SEC it regretted the lapse and was committed to fixing it.
Source: US SEC to dismiss 42 enforcement cases after internal data mishap | Reuters
