As we begin to prepare for a full schedule of events in 2024, starting with an event on Voluntary Self-Disclosure Policy for Export Controls Violations on January 16, 2024, the NYU School of Law Program on Corporate Compliance and Enforcement (PCCE) is taking a moment to reflect on our busy Fall 2023 program. First up: our September 6, 2023 Roundtable on SEC enforcement policy.
SEC Director of Enforcement Gurbir Grewal (©Hollenshead: Courtesy of NYU Photo Bureau)
by Kara Brockmeyer, Andrew Ceresney, Arian June, Robert Kaplan, Julie Riewe, Jeff Robins, Jonathan Tuttle, Charu Chandrasekar, and Amy Aixi Zhang
Gary Gensler was confirmed on April 14 in a 53-45 vote as Chair of the Securities and Exchange Commission (“SEC”).
Before his confirmation, Chair Gensler testified before the Senate Committee on Banking, Housing and Urban Affairs (“Banking Committee”) on Tuesday, March 2, 2021. Several key themes emerged in Chair Gensler’s testimony that signaled some of his likely policy priorities and directions for future initiatives at the agency.
Chair Gensler’s opening statement[1] and responses to questions provided perspective on three major policy themes: (1) the SEC’s potential role in using its disclosure, examination and enforcement authority to advance environmental, social and governance (“ESG”) and political spending priorities of the Democratic Party and Biden Administration; (2) market structure reforms, particularly in the equity markets in the wake of the WallStreetBets-related market volatility (though market structure reform more broadly will be a priority); and (3) digital asset and financial technology, and in particular, the regulation of cryptocurrency and new technologies.
by Kara Brockmeyer, Andrew Ceresney, Arian June, Robert B. Kaplan, Julie M. Riewe, Jonathan R. Tuttle, Mary Jo White, Ada Fernandez Johnson, and Mark D. Flinn
On November 2, 2020, the U.S. Securities and Exchange Commission’s (the “SEC” or “Commission”) Division of Enforcement (the “Division”) released its 2020 Annual Report (the “Report”), which details the Division’s activities and results for the period October 1, 2019 to September 30, 2020. The Report highlights the substantial impact of the COVID-19 pandemic on the Division’s activities, including the challenges of moving investigations forward while working remotely and the need to divert significant resources to protecting retail investors by investigating potential pandemic-related misconduct. Continue reading