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September 27, 2013

SEC Aims to Get Tougher on Fraud

Wall Street’s main cop, under the new leadership of a former prosecutor, plans to ramp up its policing of financial fraud.

Securities and Exchange Commission Chairman Mary Jo White, laying out a broad enforcement agenda for the first time since taking the helm at the agency five months ago, said the agency will seek charges against more individuals and pursue larger fines against companies that commit wrongdoing.

“‘We need to be certain our settlements have teeth and send a strong message of deterrence,” Ms. White said in a speech before institutional investors. “That is why in each case I have encouraged our enforcement teams to think hard about whether the remedies they are seeking would sufficiently redress the wrongdoing and cause would-be future offenders to think twice.'”

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Read full Wall Street Journal article here

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