A recent report by the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce regarding the enforcement program of the Securities and Exchange Commission identified weaknesses in that program, and made recommendations to remedy those weaknesses.The Chamber report is only one of a chorus of voices criticizing the SEC’s enforcement practices, and certain of the SEC’s actions in the last few months suggest that it has begun to heed these calls for reform.

To read the legal update on this subject from Dechert, click here.