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U.S. SEC enforcement chief says FY2021 enforcement figures will be ‘slightly down’ -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The U.S. Securities and Exchange Commission’s seal can be seen at its headquarters in Washington D.C. U.S.A, U.S. May 12, 2021. REUTERS/Andrew Kelly/File photo

Chris Prentice

WASHINGTON (Reuters), – Friday’s statement by the U.S. Securities and Exchange Commission’s director of enforcement that agency’s fiscal 2020 enforcement figures would be down slightly from previous years was made on Friday.

Gurbir Grewal, SEC enforcement director, spoke to an audience of lawyers. He said that while the data would show a decline in fiscal 2020 compared to the previous year, it was still positive. However, standalone actions of the agency are now up, and that staff have been bringing cases “first of its kind”. The fiscal 2020 year ended September 30.

Under Democratic leadership, the top U.S. market regulator took a stronger stance against corporate misconduct. The SEC chair, and other top enforcement officers, have stated that they are accelerating the investigation process and seeking guilty confessions from wrongdoers. They also intend to target compliance problems at gatekeepers.

Enforcement staff at the agency are raising concerns about executive compensation. They have also initiated inquiries into Wall Street banks.

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