SEC Chairman Mary Schapiro’s recent statements about the commission’s plans for aggressive and accelerated investigations should serve as a warning for attentive companies that the usual rules of engagement have changed. Fast-tracked formalization of investigations, delegated penalty negotiation authority, and improved whistleblower complaint processing will place the unprepared company or individual at a critical disadvantage.
Since her swearing in as chairman on January 27, Schapiro has signaled a multi-faceted strategy to enforce what she calls the “New Era of Responsibility” in the financial markets. “Reforms can — and will — be imposed by the SEC,” she told an assembly of chief compliance officers on March 10.
Compensating Whistleblowers
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