NEW YORK – Reuters (Reuters) – The agency’s acting executive director said on Monday that the SEC may focus on more traditional cases under incoming leadership, including those involving personal misconduct and fraud against elders, the agency’s acting director of law enforcement said on Monday.
The SEC has pioneered novel law enforcement theories in recent years, such as the 2021 “Shadow Transaction” case that won the championship. But it was a major hub and employee Exodus since Republicans took over the agency in January.
“Creativity may not be where we want to be,” Sam Waldon, the agency’s interim law enforcement director, said when asked about this recent law enforcement theory.
Instead, Walden said he hopes the agency will pursue perennial areas of law enforcement, including insider trading and accounting and disclosure fraud, as well as cases involving fraud by emerging technology and retail investors.
He also said cases targeting individual accountability would be a priority.
“It’s always a priority, but I do think these cases will be better by this committee,” he said.
President Donald Trump appointed Paul Atkins, who led the agency, to appear on Capitol Hill on Thursday. The SEC is expected to make it easier for Wall Street to ride under his leadership.
Since January, the Securities and Exchange Commission (SEC) has overhauled its cryptocurrency policy stance to suspend or get rid of key cases against cryptocurrency companies.
The agency also involves the ability of law enforcement officers to conduct formal investigations without the approval of the committee. When asked about the move, Walden downplayed the impact of the effort.
“It’s too early,” he said. “There are many ways to organize a process to get the committee to grant the authorization.”
(Reported by Chris Prentice; Edited by Joe Bavier)
