Welcome to SEC Roundup, a bimonthly video collection by former Securities and Change Fee senior trial counsels Nick Morgan and Tom Zaccaro, founders of the nonprofit advocacy group Investor Alternative Advocates Community.
A bunch of consultants inspecting 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, practically each side of the SEC’s Enforcement Division agenda affected or concerned IAs.
The SEC filed solely 583 complete enforcement actions in fiscal 2024 — 26% fewer than the prior 12 months. 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 modifications.
Every of the consultants expressed views on how 2025 would possibly 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 companion and former senior SEC enforcement legal professional Sarah Heaton Concannon on cyber breach disclosure; Paul Hastings companion Artwork Zwickel on Asset Administration Unit points; and former SEC trial counsel Tom Zaccaro on insider buying and selling and materials nonpublic data.
