Home -> Law Blog Directory -> Criminal Law Blogs -> NASD, SEC and Regulatory Defense Blog

Criminal Law

: NASD, SEC and Regulatory Defense Blog

SEC Pads its Enforcement Statistics with ?12(j)? Cases

By Michael MacPhail, Esq.

Reeling from criticism of its inability to police Wall Street?s role in the economic meltdown, the SEC has resorted to padding its enforcement statistics.  On October 22, 2008, the SEC issued a press release touting the 671 enforcement matters started in the year ended September 30, 2008 as "[t]he second-highest number of actions ever.?[1] According to a recent Forbes article,[2] however, at least 56 of these cases were administrative proceedings to revoke the registration of the stock of small publicly traded companies pursuant to Section 12(j) of the Securities Exchange Act of 1934.  The article states that all of these cases were instituted during the last two months of the agency?s fiscal year, as part of an apparent ploy to ?make its numbers...continue to full post

Full post as published by NASD, SEC and Regulatory Defense Blog on December 03, 2008 (boomark / email).