ABA Conversation With SEC, CFTC, And DOJ Enforcers And Regulators Reflects Coordination, Aggressive Enforcement

Here in Miami, we attended a lively discussion yesterday from top regulators and enforcers at the SEC, CFTC, and DOJ. A panel moderated by Robert Khuzami featured SEC Enforcement Director Gurbir Grewal, CFTC Acting Enforcement Director Vincent McGonagle, DOJ Acting Assistant Attorney General Brian Boynton, and DOJ Principal Assistant Attorney General Nicholas McQuaid.

Each of the enforcers provided an overview of their top enforcement priorities:

• SEC Enforcement Director Grewal cited a "decades long decline" in confidence in our institutions and the need to combat the perception that "two sets of rules" exist—one for the powerful and connected and one for everyone else. To that end, the SEC plans to pursue an aggressive enforcement agenda focusing first on "gatekeeper accountability." Accountants, auditors, attorneys, and underwriters are now on notice: the SEC considers them the "first line of defense" against all manner of misconduct. Grewal also described