Financial Reform 101: SEC Enforcement Powers

Law360, New York (August 16, 2010, 5:50 PM EDT) -- The Dodd-Frank Wall Street Reform and Consumer Protection Act expands the U.S. Securities and Exchange Commission’s enforcement authority.[1] The act empowers the SEC to bring new causes of action which may be easier to prosecute, broadens its jurisdiction and imposes stricter penalties on defendants. The expanded enforcement powers are likely to affect the scope and conduct of SEC investigations.

Expanded Aiding and Abetting Liability

Section 929M-O of the act empowers the SEC to prosecute “any person that knowingly or recklessly provides substantial assistance to another person...
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