SEC Discloses Data Related To 2012 Complaints

The SEC has disclosed data related to complaints in fiscal year 2012. During Fiscal 2012, the SEC’s Office of Investor Education and Advocacy closed 29,291 files relating to complaints, questions, and other contacts received from investors, a decrease of 4,341 files compared to FY 2011.

  • Complaints related to ponzi and pyramid schemes were up 1,328%.  A footnote to the data discloses “The vast majority of these complaints related to a particular highly publicized SEC enforcement action.”
  • Complaints related to specific market events were up 565%. A footnote to the data discloses “The vast majority of these complaints related to a particular highly publicized initial public offering.”  We’re guessing it was Facebook.

Check dodd-frank.com frequently for updated information on the JOBS Act, the Dodd-Frank Act and other important securities law matters.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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