SEC Chairperson White Delivers Speech on Enforcement

SEC Chair Mary Jo White delivered a speech to the Council of Institutional Investors at their fall conference in Chicago, highlighting the importance of "deploying the full enforcement arsenal" for the benefit of investors. Chair White explained the SEC's priorities, stating that one of their highest priorities is to complete the Congressionally mandated rules stemming from Dodd-Frank and the JOBS Act. White also spoke about the SEC's enforcement principles, highlighting certain techniques the SEC employs. For example, Chair White voiced her support for the legislation introduced in Congress which would allow the SEC to seek violation case penalties based on either three times the ill-gotten gains or the amount of investor losses. The proposed legislation also would authorize the SEC to seek additional penalties if the wrongdoer is a repeat offender. White also stated that she sees a special need for public accountability and the acceptance of responsibility in certain cases, including those not involving any parallel criminal case, as opposed to the SEC's past policy of settling cases with penalties on a no-admit-no-deny basis. White concluded by stating that the SEC will continue to monitor the entire market aggressively and attempt to enhance its ability to win at trial.

See: Chair White's Speech.