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TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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SEC New-Found Efficiency: Caseload Management
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:
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- 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]

