Group seeks SEC Enforcement records

A federal judge in Washington, D.C., is due to make a decision in a case that could shed light on improper behavior within the SEC’s Enforcement Division that led to the dismissal of scores of cases, include many that had been prosecuted for years.

The issue at the heart of the case is the so-called “control deficiency” problem that allowed Enforcement staff to gain “illicit access to confidential adjudacative documents and downloaded them in far more cases than originally reported, exposing rot in a hopelessly compromised in-house adjudication regime,” according to the New Civil Liberties Alliance.

“It was a significant event in the history of the SEC and the public needs to know more about it,” Peggy Little, NCLA senior litigation counsel, tells RCW. “We don’t have to accept their characterization of whether it was serious or not.”

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September 5, 2024

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Originally Published in Regulatory Compliance Watch