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SEC Forms Retail Fraud Working Group Within Enforcement Division

"The Retail Fraud Working Group will bring focused energy and resources to that mission - generating cases, building partnerships with our regulatory counterparts, and using data and technology to find and stop those who seek to take advantage of retail investors."
David Woodcock, SEC Division of Enforcement Director
"The Retail Fraud Working Group will bring focused energy and resources to that mission - generating cases, building partnerships with our regulatory counterparts, and using data and technology to find and stop those who seek to take advantage of retail investors."
David Woodcock, SEC Division of Enforcement Director

The SEC issued a press release announcing the formation of a Retail Fraud Working Group within the Division of Enforcement to fight fraud aimed at everyday investors.

The SEC said the group would draw on staff and resources across the agency to find fraud that targets retail investors, focusing on offering frauds, pump-and-dump schemes, market manipulation, and breaches of duty to customers by investment advisers and broker-dealers.

Enforcement Director David Woodcock, who previewed the group's formation in May remarks, said it would generate cases, build partnerships, and use data and technology to stop those who prey on retail investors (see prior coverage).

The press release announced the group would be led by Kate Zoladz, Deputy Director, West, and Kim Frederick, Assistant Director in the Asset Management Unit.

Primary Sources

  1. SEC: Press Release: SEC Forms New Retail Fraud Working Group

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Tags

Regulated Activities
Enforcement Procedures
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC