This week, the Securities and Exchange Commission (SEC)—the federal agency that oversees Wall Street—announced that it has brought almost 30 percent fewer new enforcement actions against companies in the first year of the Trump administration.
In practice, this means that the SEC is bringing fewer cases against bad actors in the financial markets for crimes like insider trading or fraud. That contradicts statements that the SEC’s head, Paul Atkins, made to Congress in February, disputing reports that suggested his agency was prosecuting fewer crimes, and assuring lawmakers that SEC enforcement work had not seen a steep decline.
In its release of case numbers this week, the agency framed its enforcement drop as an effort to focus more on cases where investors saw direct harm and to better use agency resources.
“Regrettably, such resources have been misapplied in prior years to pursue media headlines and run up numbers, and in turn, led to misguided expectations on what constitutes effective enforcement,” the SEC wrote in its statement.
and in other news, water makes stuff wet. More at 10
The foxes in charge are going after fewer hen eaters.
“Regrettably, such resources have been misapplied in prior years to pursue media headlines and run up numbers…”
Well, yes, of course, the famously reticent and modest-to-a-fault trump regime would never exaggerate numbers or do anything rash just to conjure up headlines.
So they’re too liberal, and weak on crime?
To be fair, if the bar is now"we won’t immediately have to incriminate Trump’s whole family" then there is very little left they can enforce
Next you’re going to tell me the sky is blue.
Whose SEC? The Wall Street Criminal’s? Huh. Strange that…
