Mary Jo White became the thirty-first chairman of the SEC this week. Ms. White take the helm of an agency at a cross-roads. While it has made great strides since the beginning of the financial crisis and a series of scandals many have questioned the vigor of its enforcement program. The agency also faces a full plate of rule making issues and faces additional challenges from issues which include high speed trading and dark pools.
FCPA enforcement returned this week with the Commission filing its first action of the year and the DOJ unsealing year old charges against individuals tied to one of its earlier corporate settlements. Insider trading continued to dominate the news with SEC and DOJ charges against a former big four audit partner who is alleged to have repeatedly tipped his friend who traded and made millions. And, the Commission filed an amended complaint against the sister of a defendant tied to the expert network insider trading investigations.
New chairman: Mary Jo White was sworn in as the thirty-first chair of the SEC on April 10, 2013.
Testimony: Lona Naliengara, Acting Director, Division of Corporation Finance, and John Ramsay, Acting Director, Division of Trading and Markets, testified before the House Subcommittee on Investigations, Oversight and Regulations, regarding the implementation of the JOBS Act. The testimony reviewed the Acts, proposed rules and studies undertaken by the staff to implement them (here).
Click here to read the entire post.
For more commentary on developing securities issues, visit SEC Actions, a blog by Thomas Gorman.
For more information about LexisNexis products and solutions connect with us through our corporate site.