Strengthening the SEC's Vital Enforcement Responsibilities

Strengthening the SEC's Vital Enforcement Responsibilities

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Contents: (1) The extent to which the resource shortages and enforcement policies of the SEC in recent years have hampered aggressive enforcement of securities laws; (2) What changes are needed to ensure that the SEC does not once again fall behind on its enforcement responsibilities; and (3) What changes Congress should consider to ensure adequate resources and authority for the SEC to fulfill its vital enforcement role. Khuzami outlines SECAis plan for addressing the challenges that we face. He also discusses some of the changes that SEC Chairman Mary Schapiro has instituted that have already helped SECAis program. Additional resources would enhance SECAis ability to keep pace with ever-changing developments in a dynamic marketplace.Second, if the term a€œissuesa€ is a euphemism for misconduct that the law does not clearly prohibit, then no enforcement ... act promptly to provide public clarification of industry membersa#39; legal obligations, including rulemaking as necessary. Resource Allocation. Many of the complaints express by SEC staff may reflect a failure to balance priorities rather than inadequate ... For example, assume that an office of 12 attorneys needs two administrative staff one accountant and a $1, 000anbsp;...

Title:Strengthening the SEC's Vital Enforcement Responsibilities
Author:Robert Khuzami
Publisher:DIANE Publishing - 2010-11


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