Welcome to SEC Roundup, a bimonthly video sequence by former Securities and Trade Fee senior trial counsels Nick Morgan and Tom Zaccaro, founders of the nonprofit advocacy group Investor Selection Advocates Community.
A bunch of specialists analyzing the SEC Enforcement Division’s Annual Report see IAs as dominating the company’s agenda.
From off-channel communication retention, crypto forex custody, dealing with of fabric nonpublic data, the increasing “supplier” registration necessities, cyber breaches and brief promoting, almost each facet of the SEC’s Enforcement Division agenda affected or concerned IAs.
The SEC filed solely 583 whole enforcement actions in fiscal 2024 — 26% fewer than the prior yr. And whereas the Fee obtained a record-setting $8.2 billion in civil penalties and disgorgement, over half that determine was in a single matter.
With the change in administration, 2025 guarantees some dramatic adjustments.
Every of the specialists expressed views on how 2025 may form up, together with Rodrigo Seira of Cooley on crypto and digital property; unbiased public firm director (and former senior SEC enforcement accountant) Lisa Troe on accounting and monetary reporting; Quinn Emanuel accomplice and former senior SEC enforcement lawyer Sarah Heaton Concannon on cyber breach disclosure; Paul Hastings accomplice Artwork Zwickel on Asset Administration Unit points; and former SEC trial counsel Tom Zaccaro on insider buying and selling and materials nonpublic data.
