DOJ, SEC Defend Pace Of Financial Fraud Prosecution

Law360, New York (September 22, 2010, 4:40 PM EDT) -- U.S. Department of Justice prosecutors and the Securities and Exchange Commission on Wednesday fended off criticism from members of a Senate panel about the pace with which they bring financial fraud cases, touting their increased enforcement efforts under new anti-fraud laws.

The Senate Judiciary Committee hearing, chaired by Sen. Ted Kaufman, D-Del., focused on the DOJ, the SEC and the Federal Bureau of Investigation's leverage of new resources and legal authorities provided by the Fraud Enforcement and Recovery Act since President Barack Obama signed it into...
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