The SEC this year will turn away from more expansive or novel enforcement tools used in the Biden administration, and double down on bread-and-butter fraud cases, attorneys say.
“Expect less appetite for corporate penalties and lower penalty amounts,” said Jessica Magee a former SEC enforcement officer now with Holland & Knight LLP. That anticipated shift raises the question of how the Securities and Exchange Commission will create incentives for self-reporting and cooperation, she told Bloomberg Law.
Gregory Baker of Patterson Belknap Webb & Tyler LLP, who was at the SEC during the transition from the Obama administration to the first ...