The SEC is looking for more cases to bring to emphasize its support for compliance programs, including a case against a former portfolio manager.
OCIE has also several specialized working groups in areas such as securities valuation, marketing and sales practices, and fixed income and municipal securities, that are working with Enforcement staff to bring cases. For example, the group specializing in fixed income and municipal securities helped the Enforcement Division bring several major cases against local municipal entities over alleged financial misstatements.
The SEC has to act in those situations to deter bad conduct, and support the role of compliance officers.
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