2017 will most likely be remembered as a year of transition, as the Securities and Exchange Commission’s enforcement actions indicate, at least in the near term, an emphasis on specific initiatives and retail investor protections, rather than the highly technical, non-fraud investigations dominant in recent years. Still, public companies should remain vigilant regarding potential risks, and continue to implement and maintain strong, robust controls.

...We are pleased to present our annual review of enforcement activity relating to financial reporting and issuer disclosures. Much like prior reviews, this update focuses principally on the Securities and Exchange Commission (“SEC”) but also discusses other relevant trends and developments.