SEC Says it is Bringing Charges Against Wall Street

You've probably heard the charges made by politicians and activists that the Securities and Exchange Commission is ineffective and not bringing charges against those who caused the 2008 financial crisis.

"YOU'RE WRONG!" says the SEC.

The SEC has begun publishing "Enforcement Actions Addressing Misconduct That Led to or Arose From the Financial Crisis."

Key Statistics (through Oct. 19, 2011)

^* In settlements with Evergreen, J.P. Morgan, State Street, and TD Ameritrade

In the prism of the enormous losses of  the 2008 financial crisis this may not seem by much. I think most people, though rightly upset, will have a hard time finding criminal conduct among those activities subject to the jurisdiction of the SEC. Sure, the proliferation of CDOs in 2007 can be seen as suspect. But criminal?

Sources:

• SEC Enforcement Actions Addressing Misconduct That Led to or Arose From the Financial Crisis
• SEC Compiles List of Financial Crisis Cases; Says More on the Way Soon
  by Bruce Carton in Compliance Week's Enforcement Action

For additional commentary on developments in compliance and ethics, visit Compliance Building, a blog hosted by Doug Cornelius.

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