Dan Brecher
Counsel
212-286-0747 dbrecher@sh-law.comAuthor: Dan Brecher|August 10, 2015
“The recommendations in this report are designed to further strengthen the SEC enforcement program’s ability to detect and deter fraud while also ensuring honest market participants benefit from a clear and fair investigations process,” the report states.
The Chamber’s Center for Capital Markets Competitiveness (CCMC) surveyed more than 75 companies to identify areas of concern, specifically issues resulting from ambiguity or lack of clarity in the SEC enforcement process. The CCMC then consulted more than 30 former SEC officials, legal experts, and corporate counsels to develop specific recommendations.
As we have previously discussed on this blog, the SEC had recently come under fire for using administrative proceedings to secure a “home court” advantage. Other critics have questioned the agency shifting policy regarding admissions.
In total, the CCMC report contains 28 recommendations for improving the SEC’s enforcement process. Below is a brief summary of the U.S. Chamber of Commerce’s stance on several key issues:
While the U.S. Chamber of Commerce is the country’s largest business lobby, it is unclear how much attention these recommendations will get from the SEC. We will continue to provide updates on the SEC enforcement policies as they become available.
“The recommendations in this report are designed to further strengthen the SEC enforcement program’s ability to detect and deter fraud while also ensuring honest market participants benefit from a clear and fair investigations process,” the report states.
The Chamber’s Center for Capital Markets Competitiveness (CCMC) surveyed more than 75 companies to identify areas of concern, specifically issues resulting from ambiguity or lack of clarity in the SEC enforcement process. The CCMC then consulted more than 30 former SEC officials, legal experts, and corporate counsels to develop specific recommendations.
As we have previously discussed on this blog, the SEC had recently come under fire for using administrative proceedings to secure a “home court” advantage. Other critics have questioned the agency shifting policy regarding admissions.
In total, the CCMC report contains 28 recommendations for improving the SEC’s enforcement process. Below is a brief summary of the U.S. Chamber of Commerce’s stance on several key issues:
While the U.S. Chamber of Commerce is the country’s largest business lobby, it is unclear how much attention these recommendations will get from the SEC. We will continue to provide updates on the SEC enforcement policies as they become available.
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