The SEC Speaks: Reflections and Enforcement Initiatives in 2013

Each year at The SEC Speaks, the Commissioners and senior leadership of the Securities and Exchange Commission identify the agency’s priorities and initiatives for the coming year. Of course, one of the most anticipated discussions concerns the Commission’s enforcement trends and priorities, and this year the Division of Enforcement’s most senior staff members provided their thoughts on the past, present, and future of their work. Though the many recently-announced changes in personnel at the SEC are certainly a distraction from the Division’s work, the staff made clear that it intended to continue its aggressive enforcement program in 2013.

George Canellos, Acting Director for the Division of Enforcement, started the enforcement discussion by stating that the Division is presently going through “a period of reflection,” while Congress undertakes the process of considering Mary Jo White as the next Chairman of the SEC. Prior to her current work in private practice, White was a long-time prosecutor, ultimately serving as the United States Attorney for the Southern District of New York. Canellos himself was recently appointed the Acting Director of the Division after Robert Khuzami announced his departure after four years at the helm. Prior to being appointed Acting Director, Canellos served as Deputy Director of the Division of Enforcement, and as the Regional Director of the SEC’s New York Regional Office. Canellos appointed David Bergers, currently head of the Boston office, to be Acting Deputy Director for Enforcement.

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