Regulatory Outlook | 02.10.21
SEC Moves to Speed Up Process for Probes
The SEC has restored senior officers’ ability to launch formal investigations without the approval of the enforcement division’s leadership, in a bid to more swiftly detect fraud, it said on Tuesday. Under the previous administration, the enforcement division’s two co-directors had to approve orders to kick off any formal probes. “Returning this authority to the division’s experienced senior officers ... helps to ensure that investigative staff can work effectively to protect investors in an era when the pace of fraud – like the pace of markets themselves – is ever more rapid,” Allison Herren Lee, acting chair at the SEC, said.
Read the full article on Reuters.