by Larry Goldfarb

When a NYC criminal commits a crime and goes back on the streets, the cops pay special attention to the perpetrator.  When a financial fraudster is allowed back into the industry following a fine or a leave of absence, SEC Commissioner Luis Aguilar, a Democrat , believes The U.S. Securities and Exchange Commission should consider creating a program to monitor fraudsters who repeatedly break the law, one of the regulator's top officials said on Thursday. "Many offenders, particularly Ponzi scheme offenders, have long track records," Aguilar said in a speech at the Securities Enforcement Forum in Washington.

Aguilar also pointed out:

• The SEC should be self-funded through the fees it imposes on the industry, a mechanism used by some other financial regulators such as the Federal Deposit Insurance Corporation.

• The SEC should strengthen its enforcement program, including tougher penalties.He said he supports legislation introduced earlier this year which would boost the penalties that the SEC can seek from firms and individuals accused of wrongdoing and triple the cap on funds the agency can seek from repeat offenders. 

For further information, please read [Reuters, 10/19/2012]