Securities and Government Regulatory Law

Representation before the Securities and Exchange Commission

The SEC has a large and active Enforcement Division. This division investigates possible violations of the federal securities laws. The SEC has authority to bring civil enforcement actions against persons and entities for violation of the securities laws. Sanctions include monetary penalties, injunctions, cease and desist orders, and exclusion from regulated industries and professions.

The SEC has subpoena power. The enforcement staff attorneys and investigators take sworn testimony from witnesses in their investigations. As with other types of fraud, to prove securities fraud the SEC must either obtain the cooperation of someone involved to provide incriminating evidence or build its case circumstantially.