2014 Outlook for Securities Enforcement
Published December 27, 2013 1:45 PM
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Updated March 31, 2017 1:56 PM
1 Min Read
Andrew Harrer/Bloomberg
"I think you will see our increased focus on municipal issuers and issuer officials," said LeeAnn Gaunt, chief of the SEC's municipal securities and public pension unit. (Image: Bloomberg News)
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The SEC will probably closely scrutinize the conduct of a wide range of bond deal participants in 2014, said Elaine Greenberg, a lawyer at Orrick, Herrington & Sutcliffe LLP and former head of the municipal securities and public pensions unit. (not a quote, paraphrase)
The SEC could charge a greater number of public officials with fraud in muni bond cases in the coming year, said Paul Maco, a partner at Bracewell & Giulliani.
The National Association of Bond Lawyers has undertaken a project aimed at providing disclosure training guidance to the market that will likely be available in the first quarter of the new year, said John McNally, a partner at Hawkins Delafield & Wood LLP.
The SEC's case against Harrisburg, Pa. in 2013 was a landmark, securities experts agree, and provides a lot of guidance on the enforcement division's thinking. (Image: Bloomberg News)
More investigations related to pension and other post-employment benefit liabilities are likely in 2014, said John Grugan, a partner at Ballard Spahr LLC.
The overturned verdicts of convicted bid-riggers Dominick Carollo, Steven Goldberg, and Peter Grimm could weaken other white collar criminal cases, acording to Anthony Sabino, a Mineola, N.Y., white-collar defense attorney and St. John's University law professor.
