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SEC New-Found Efficiency: Caseload Management

March 25, 2011

SEC Enforcement Director Robert Khuzami, during his speech at the Annual Seminar of the SIFMA Compliance & Legal Society, reported that the Commission staff has been opening and closing cases more quickly - which translates into an "11% decrease in the last 2 years in the average amount of time it takes to file an action."   Here are more metrics:

    a nearly 10% increase in the percentage of actions first filed within 2 years of the opening of an investigation.
  • a 33% increase in cases closed in fiscal year 2010 and 2009, as compared to previous years.
    • This trend translates into more timely cases with greater deterrent impact, and a decrease in the uncertainty for the subjects of our investigations about their status.
  • 681 cases were filed in fiscal year 2010 - more than in any of the previous 5 years.
  • $2.85bn in disgorgement and penalties was ordered in FY 2010 - a 17% increase over FY 2009 and a 176% increase over FY 2008.
  • Nearly $2bn distributed to injured investors from 42 separate Fair Funds.

That's enough statistics - don't want to overload you.   To access Mr. Khuzami's complete speech, go to:   [SEC Staff Speeches, 3/23]