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SEC to Shift Focus to Individual Violators

Sep 26, 2013
Jing Chen

The Securities and Exchange Commission will put more emphasis on individuals who violate securities laws than the firms where they work, according to a Bloomberg report.

SEC chairman Mary Jo White said in a speech Thursday that the agency will be “looking first at the individual conduct and working out to the entity, rather than starting with the entity as a whole and working.”

The article also said that the SEC has faced criticism from lawmakers, judges and investors that many of its cases related to the 2008 financial crisis failed to punish senior executives and allowed firms to resolves cases through monetary settlements without admitting guilt.

White, who became SEC chairman in April, has already started seeking admission of wrongdoing in the securities violation charges against Harbinger Capital Partners’ Phil Falcone.


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