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Admitting “Egregious Intentional Conduct”

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1 Response

  1. Jennifer Taub says:

    Kelli, great post.

    I hope investors (or taxpayers) are not under the illusion now that Dodd-Frank (as partially implemented, and even if fully implemented) has made them significantly safer.

    This also invites the question of why the SEC fails to litigate in the most egregious cases or even the moderately egregious. Of course, I am not the first (nor will be the last) to raise this issue. Senator Warren has done this rather forcefully.

    To the extent the failure to litigate stems from resource limitations and fear of going up against a more experienced, better-staffed firm (or even conflicts of interest), the SEC should consider outsourcing. This has been raised by Tamar Frankel and John Coffee . . .wondering if you have thoughts on this.

    Best,

    JT

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