{"id":130,"date":"2009-04-29T08:28:00","date_gmt":"2009-04-29T12:28:00","guid":{"rendered":"http:\/\/www.intuitiveinvestor.com\/web\/?p=130"},"modified":"2018-08-23T13:01:00","modified_gmt":"2018-08-23T17:01:00","slug":"new-sec-anti-fraud-team","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2009\/04\/29\/new-sec-anti-fraud-team\/","title":{"rendered":"New SEC anti-fraud team"},"content":{"rendered":"

Good morning folks!<\/span><\/p>\n

Today brings good news from the Securities and Exchange Commission (SEC). Recall that I have been calling for regulators to become more proactive in their regulation of financial institutions and markets. I have specifically said that it is important that they have transparency into the market as a whole. I have also called for Congress to better fund the regulators, too. And lastly, I have called for more active management of in terms of rooting out fraud and other types of corporate malfeasance.<\/span><\/p>\n

Specifically what has happened is that Robert Khuzami<\/span>, the SEC’s<\/span> enforcement chief, has announced the creation of a team of specialists who focus on specific types of wrongdoing. This is a tectonic shift for the SEC which has typically employed generalists; or if you prefer: “jacks of all trades,” but “masters of none.” The disconnect of course is that fraudsters do become expert at what they do – that is how they elude detection.<\/span><\/p>\n

Another change that is afoot, that is efficient, yet sad to me, is that the SEC is considering a plan to review current investigations that are inactive, old or that don’t have a deterrent effect to developing criteria so that that those cases can be dropped. The reason this makes me sad is that this is a choice born of resources that are too limited. The Commission says that it is undertaking this action so that investigations can be brought in a more timely manner so that the actions undertaken serve as a strong warning against potential wrong-doers.<\/span><\/p>\n

And the last change that is afoot is the elimination of some mid-level management that is believed to hinder expeditious investigations and that drain the SEC’s<\/span> budget. I don’t know enough about the SEC’s<\/span> inner-operating structure to say whether I believe this is a good thing or not.<\/span><\/p>\n

In conclusion, this announcement from the chief watch dog of U.S. corporations is a welcome one. A more effective watch dog hopefully results in wagging markets and not barking markets!<\/span><\/p>\n

Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning folks! Today brings good news from the Securities and Exchange Commission (SEC). Recall that I have been calling for regulators to become more proactive in their regulation of financial institutions and markets. I have specifically said that it is important that they have transparency into the market as a whole. I have also […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-130","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=130"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/130\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}