The SEC had an active first quarter of 2022, reflecting an aggressive enforcement and regulatory approach being taken by Chair Gary Gensler and Enforcement Director Gurbir Grewal since they assumed their respective roles last year.
The Division of Enforcement was busy, including instituting settled and contested actions involving violations ranging from broker-dealer record-keeping deficiencies to fraud involving cryptocurrency to insider trading. In addition, the Division of Examinations announced its 2022 priorities, showing that there will be a focus on private funds, new technologies in the investment space, and the environmental and social aspects of financial services governance and resiliency. Finally, from a rulemaking perspective, the Commission has been particularly active by announcing new proposals related to private fund disclosures, climate disclosures, special purpose acquisition companies, whistleblowers, and insider trading.
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