SEC's Grewal Calls Out Defense Attys For Undue Delays

By Al Barbarino (May 13, 2022, 4:31 PM EDT) -- The head of the U.S. Securities and Exchange Commission's enforcement department says defense counsel are "too often" to blame for investigatory delays, suggesting that the attorneys, including agency alumni, sometimes purposely blow deadlines or furnish unnecessary paperwork.

At a securities industry event on Thursday, Gurbir S. Grewal lamented the various strategies he said defense attorneys use to drag out investigations as he addressed the sentiment among "large segments of the population" that wrongdoers aren't being held accountable in a timely fashion.

"Too often, we see defense counsel — sometimes even including enforcement alums — engage in conduct that seems to have little...

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