December 15, 2019

Jim Lundy and Fred Reish’s Comments on SEC Chair’s Proposed Enforcement Action Noted in Financial Planning

In the article “SEC chair vows aggressive action against advisors who fleece teachers, service members,” Financial Planning reports that the SEC chairman, Jay Clayton, promised members of the Senate Banking Committee that the commission will seek rigorous enforcement against unscrupulous advisors and brokers who take advantage of teachers and military service members — emerging areas of focus for the commission as it looks to crack down on bad actors who prey on retail investors.

Drinker Biddle partners Jim Lundy and Fred Reish’s comments from a recent blog post discussing the SEC’s “sweep” examinations were noted in the article. The two wrote that the commission has identified concerns with public sector retirement in the past, and point to Clayton’s recent comment that “teachers and military folks hold a special place in all our hearts at the SEC” as an indication that the commission “will pursue this particular sweep aggressively.”


Services and Industries

Related Industries

The Faegre Baker Daniels website uses cookies to make your browsing experience as useful as possible. In order to have the full site experience, keep cookies enabled on your web browser. By browsing our site with cookies enabled, you are agreeing to their use. Review Faegre Baker Daniels' cookies information for more details.