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February 9, 2021

SEC’s Redelegation of Enforcement Investigation Authority is Critical to Protecting Investors by Quickly Identifying and Stopping Fraud

FOR IMMEDIATE RELEASE

Tuesday, February 9, 2021

Contact: Pamela Russell at 202-618-6433 or prussell@bettermarkets.com

 

SEC’s Redelegation of Enforcement Investigation Authority is Critical

to Protecting Investors by Quickly Identifying and Stopping Fraud

 

Washington, D.C.  –  Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to today’s action by the SEC to redelegate authority to enforcement staff to act more swiftly to detect and stop ongoing frauds, preserve assets and protect investors.

“The SEC’s action today is critical to identifying, investigating, stopping and punishing fraud and lawbreaking, especially with today’s markets moving at near-nanosecond speeds and the proliferation of financial predators. Money moves at the speed of a keystroke, and the SEC must move equally fast to protect investors and markets and redelegating this authority will allow it to do that.

“This authority should never have been taken away from the professional investigative staff. We applaud the Acting Chair for swiftly restoring this vital enforcement tool. We hope going forward the Commission will once again depoliticize enforcement because there is no place for ideology in protecting investors and markets.”

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.

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