WASHINGTON — The Securities and Exchange Commission’s settlement last week with JPMorgan over payments former bankers made to get municipal bond and swap business from Jefferson County, Ala., as well as other recent enforcement actions, show the SEC is not afraid to pursue complex and difficult financial crimes, the agency’s head of enforcement said yesterday.
“We do every bit of sophisticated and detailed inquiries [and] we bring those kinds of cases on a regular basis,” SEC enforcement director Robert Khuzami said, speaking at Bloomberg’s Washington Summit here. “It may take us a little while to get there. These investigations can be challenging and difficult. But if you look at our track record, I don’t think those that are inclined to engage in misconduct can take much comfort from it.”