The final session of the first day of the conference was focused on current developments at the SEC. Lindsay McCord, chief accountant, SEC Division of Corporation Finance, served as moderator and discussion leader. Jonathan Wiggins, senior associate chief accountant, SEC Office of the Chief Accountant (OCA), and Charles Wright, senior legal and policy advisor, SEC Division of Enforcement, also participated on the panel. This article presents an edited summary of that panel discussion. The comments made by the panelists represent their own thoughts and views, and are not necessarily representative of the SEC, the Commissioners, or other members of the SEC staff.
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Lindsay McCord, Chief Accountant at the SEC’s Division of Corporation Finance, said that the panel would begin with an overview of each individual’s respective division or office, followed by a discussion of trends in accounting and financial reporting, and conclude with an overview of enforcement.
Charles Wright, Senior Legal and Policy Advisor at the SEC’s Division of Enforcement, began by describing the background of the Division of Enforcement. It is the largest division at the SEC and brings hundreds of civil enforcement actions administrative actions each year.
“The division obtains evidence of possible violations of securities laws from many sources, including market surveillance activities, investor tips, and complaints,” Wright noted. “Following an investigation, the staff can present their findings to...
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