Schapiro Moves To Speed Up SEC Investigations

Law360, New York (February 6, 2009, 12:00 AM EST) -- In an effort to accelerate U.S. Securities and Exchange Commission investigations, newly confirmed Chairwoman Mary L. Schapiro has put an end to a two-year pilot program that required enforcement attorneys to get approval from commissioners before negotiating fines and other penalties with companies accused of securities violations.

In a speech at the Practicing Law Institute's “SEC Speaks In 2009” conference in Washington, D.C., on Friday, Schapiro said that bringing the “penalty pilot” experiment to an end would be a significant step in empowering the beleaguered securities...
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